September 13, 2017 / 8:45 AM / in 10 months

South Africa's loss-making airline to cut fleet in bid to turn fortunes

CAPE TOWN, Sept 13 (Reuters) - South Africa’s struggling national airline SAA said on Wednesday five narrow-body aircraft would be retired from its fleet by December, causing an overall flights reduction of 23 percent, in a bid to return to profitability.

“One narrow-body aircraft has left the fleet, with four more expected to leave the fleet by December 2017,” a presentation to legislators said.

The airline runs one of Africa’s biggest fleets but is loss-making. It received state funds in July to help to repay debts and also depends on government debt guarantees of about 20 billion rand ($1.5 billion). ($1 = 13.0415 rand) (Reporting by Wendell Roelf; Editing by James Macharia)

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