South Africa needs a state owned airline, SAA 'can be run on a sound basis': Finance Minister

South Africa's Minister of Finance Malusi Gigaba said South African Airways (SAA) has "many inefficiencies" but "can be run on a sound basis" (moneyweb.co.za, 28-Aug-2017). Mr Gigaba cited forensic reports which indicate that "altering inefficient contracts" could improve profitability by ZAR1.5 billion (USD115 million) to ZAR2 billion (USD153 million) p/a. Mr Gigaba said: "We also need proper management, and a sound board. We need to have a strategic equity partner. All of these things put together will make it a sound airline". He also commented: "We do need a state-owned airline. We need to guarantee air travel for tourism and investors to our country. The best way to do that is to have an airline".