SAA re-negotiates A340 leases

South African Airways (SAA) has also renegotiated fleet lease re-extensions of 3 of its A340 aircraft, already representing a positive impact of R 112 million annually. Further five aircraft lease extensions and renegotiations are expected to yield additional savings in excess of R 150 million later in the year. In a report on its 60 days into the 90 Day Action Plan commenced last year, SAA also disclosed that it has completed approximately 40% of identified contract renegotiations, which forms part of a strengthening of Governance controls within the procurement area and re-focus on cost compression, which has resulted in