Local lenders holding the bulk of South African Airways (SAA) debt have given the national carrier until Monday to appoint a chief restructuring officer. The appointment is one of the conditions that the airline has to meet in order to have its debt rolled over to the end of October and, possibly, March 2019. Insiders said it was crunch time for the airline and bold decisions had to be taken to turn around its fortunes. Business Day has established that SAA has short-listed seven candidates for the post of chief commercial officer, responsible for revenue management. SAA spokesman Tlali Tlali confirmed on Sunday that the appointment of a chief restructuring officer was one of the conditions set by the lenders. It is understood that Peter Davies, a British aviation veteran who has served on the board of the International Air Traffic Association, has been selected as the preferred candidate for the chief restructuring officer post, but his formal appointment is being stalled. The chie...
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