Embattled national carrier, South African Airways (SAA) has dug deep into its purse in a means to address a “severe” skills shortage. As the Mail & Guardian reports, the airline has splurged millions appointing executives and commissioning foreign consulting firm, Read More …
Cash strapped state airline SAA goes on spending spree
Struggling state airline SAA is splurging millions on executives and consulting firms in a spending frenzy that has been described as “worrying”.
Its recently appointed chief executive, Vuyani Jarana, has said the increased expenditure is necessary to address a severe skills shortage.
The Mail & Guardian has established that SAA, which last week received yet another R5‑billion bailout from the treasury, is paying R25‑million to Deutsche Bank in a deal to analyse its financials and restructure its debt.
Billions and billions of Rands are pumped into the SAA ‘black’ hole
Dudu Myeni finaly fired as SAA chair
Dudu Myeni has been removed from the board of South African Airways in what could be a range of changes made to the leadership of the embattled airline. The Mail & Guardian understands that Myeni will be replaced by businessperson Read More …
No end to SAA’s nightmares
The nation’s beleaguered airline has breathing room until October 31 — Halloween, after which its debt demons may return to haunt it with a vengeance. It is understood that most of SAA’s lenders have agreed to roll over the outstanding Read More …
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 Read More …
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 Read More …
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 Read More …
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 Read More …
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 Read More …