April 30, 2019 / 8:27 AM / 3 months ago

South African Airway says reaches debt roll over deal

DUBAI, April 30 (Reuters) - State-owned South African Airways (SAA) has reached an agreement in principle with lenders to roll over its existing debt of 9.2 billion rand ($641.55 million), its chief executive officer said on Tuesday.

Vuyani Jarana told reporters at a CAPA aviation summit in Dubai that SAA — which has not made a profit since 2011 — is “aggressively pursuing” profitability in 2021 and is looking to expand its network in 2019 and reduce costs.

$1 = 14.3403 rand Reporting by Alexander Cornwell; editing by Louise Heavens

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