South African Airways said yesterday that it will ground its 747-400 fleet, divide into seven subsidiaries and cut its management staff by 30% as part of a comprehensive restructuring effort aimed at returning the carrier to profitability. Two months after CEO Khaya Ngqula vowed to initiate a "full-scale restructuring" program that would respect "no holy cows," (ATWOnline, April 2), he outlined the extent of the changes and claimed that a return to profitability within 12-18 months is ...
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