SAA cash crunch deepens as suppliers have still not been paid

South African Airways (SAA) appears to have exhausted its available cash reserves following news that suppliers have still not been paid for work done in July. The airline has thirty-day terms with a number of suppliers that provide essential services to it. They had not been paid at the end of last week, a week […]
Continue reading…

Enjoyed this post? Share it!

 
 

Gigaba lashes out against ‘hysteria’ over SAA bailout

Finance Minister Malusi Gigaba has spoken out against what he termed hysteria that has been created around the options government is considering to recapitalise South African Airways (SAA). He was speaking at a briefing at Treasury following a meeting with the steering committee of the CEO Initiative on Friday. He emphasised that government is still […]
Continue reading…

Enjoyed this post? Share it!

 
 

SAA to get R10bn bailout from sale of government stake in Telkom

Cash-strapped SA Airways is to get a R10-billion bailout through the sale of the government’s multibillion-rand stake in Telkom, parliament was told on Wednesday. DA MP Alf Lees dropped the bombshell in the National Assembly during question time with Deputy President Cyril Ramaphosa when he presented a cabinet memorandum leaked to him as a member […]
Continue reading…

Enjoyed this post? Share it!

 
 

FNB CEO says he will not fly with SAA and is now looking at honest alternatives

Chief Executive Officer of First National Bank, Jacques Celiers, indicated on social media that he would not make use of SAA’s services anymore. He is now looking at “honest alternatives.” FNB spokesperson Lwazi Stuurman told media that Celliers will not comment. Malusi Gigaba has indicated that he will approach Celliers on the move. It is […]
Continue reading…

Enjoyed this post? Share it!

 
 

ALERT: Passengers warned of SAA strike at OR Tambo International

Cape Town – Passengers are being advised to remain in contact with South African Airways, as a strike by its technical crew is set to get underway. Management of OR Tambo International Airport says they are aware of a strike by technical crew of South African Airways (SAA) from Friday 4 August and is “closely […]
Continue reading…

Enjoyed this post? Share it!

 
 

No support for Dudu  at parliament’s portfolio committee

The SAA board did not seem likely to support their chairman in parliament after it came to light that the airline suffered a loss of R4,683 billion in the last financial year. The entire board had to appear before the parliament’s portfolio committee, but eventually only chairman Dudu Myeni arrived. Apparently, independent aviation technicians have […]
Continue reading…

Enjoyed this post? Share it!

 
 

SAA to remain under intense government oversight – Gordhan – Budget 2017

SAA will remain under intense government oversight, Finance Minister Pravin Gordhan said in his report contained in National Treasury’s 2017 Budget Review, which he tabled in Parliament on Wednesday. Referring to recommendations made by the Select and Standing Committees on Finance on the 2016 Revised Fiscal Framework, Gordhan said the committees recommend that National Treasury […]
Continue reading…

Enjoyed this post? Share it!

 
 

SAA Boss Dudu Myeni: ‘I’m A Transformation Hero’ – Read Her Astonishing Letter To Parliament

Who is a bigger clown in South Africa’s state-owned entities: SAA chairperson Dudu Myenior SABC propaganda czar Hlaudi Motsoeneng? That was the question being batted around after Parliamentarians read a letter from Myeni explaining why she won’t resign from heading the beleaguered national airline. Myeni is as arrogant as she is incompetent, describing herself as […]
Continue reading…

Enjoyed this post? Share it!

 
 

Why Is Dudu Myeni Not Behind Bars Yet?

Dudu Myeni in her Banana costume.   Jeez, what was she thinking? Imagine you are the CEO of a company anywhere in the world and steal it into bankruptcy to the tune of an R4.67 billion loss in one year. Not only will you be fired immediately, but you will be imprisoned. Not in South Africa […]
Continue reading…

Enjoyed this post? Share it!