US’s Bain hired to advise on strategy for loss-making SAA
Bain, based in Boston, was awarded the contract as part of a joint venture with South African company Abacus Advisory
SA has hired Bain to advise on the strategy and corporate structure of the country’s three loss-making state-run airlines to improve the benefit to the state from owning the carriers. Bain, based in Boston, was awarded the contract as part of a joint venture with a South African company, Abacus Advisory, according to a posting on the Treasury’s website. The contract was awarded in October for a three-month period, a spokesperson for the Treasury said in an e-mail on Monday. The government is seeking advice on the corporate structure of South African Airways (SAA) and South African Express (SA Express), which could lead to the sale of a minority stake in the airlines and the disposal of assets that are not central to their businesses, according to a separate invitation-to-bid document. The state is also seeking advice on how to improve their financial performances, reduce risk and develop a "well-coordinated strategy", the document shows. Both SAA and SA Express are surviving on stat...
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