TOURVEST APPLAUDS GOVERNMENT’S RESCUE PLAN FOR SAA

JOHANNESBURG, 13 DECEMBER 2019 – From the Office of the CEO

Tourvest Holdings wholeheartedly supports the decision by the government to hand South African Airways (SAA) over to a restructuring specialist, as part of a R4 billion business rescue plan started last Thursday.
“We are in full support of this decision by the government, however difficult. It signals a new era of bold leadership in the tourism and travel industry and the South African economy as a whole, which SAA plays a critical role in.” says Tourvest Group CE Sean Joubert
“Like SAA, we are a proudly South African company, endeavouring to promote our country locally and globally, thus we are hoping that SAA emerges from its current position as a strong and sustainable airline that meets the highest world standards as South Africa’s national carrier,” Joubert further adds.
“We wish to reiterate that SAA is a key driver of the economy, not only in respect of tourism, trade, job creation, but also in transportation logistics, which in turn fuels a number of other industries. The decision by the government and the SAA Board to step in decisively in order to save it, can only be a positive one, which we will do all in our power to support,” concludes Joubert.
About Tourvest
Tourvest is Southern Africa’s leading integrated tourism group, operating businesses which range from destination management, accommodation and activities, travel management services, financial services and travel retail to destination retail, duty free and inflight services, jewellery and gemstones as well as restaurants and taverns, under some 60 sector-leading brands, employing more than 6 000 people.
Tourvest’s steady growth as a leading integrated tourism group has been driven by a commitment to exceptional quality, service and value; its people centred business philosophy; the development of mutually rewarding partnerships; constant innovation; and world-class technology. Tourvest is based in South Africa and is a global business, with operations in Southern, East and West Africa, India, the United Kingdom, Spain, New Zealand and the Caribbean, as well as having principals, associates and clients throughout the world.
Tourvest is an entrepreneurial business and each division is run as an autonomous business unit with separate boards supported in its efforts by head office.
For interview requests please contact:

Sean Joubert
Group Chief Executive
Tourvest Holdings (Pty) Limited
[t] +27 11 728 0540
(m) +27 (0) 83 327 0265

Morné du Preez
Chief Executive Officer
Tourvest Travel Services
[t] +27 11 790 0117
(m) +27 (0) 83 988 6688

Martin Wiest
Chief Executive Officer
Tourvest Destination Management
[t] +27 11 676 3050
(m) +27 (0) 82 555 9500