SAA "in deep trouble" amid reported R1.38bn first quarter loss

It’s reported that South African Airways (SAA) made a net loss of R1.38 billion in the first quarter of its financial year.

Editor and Publisher of SA Flyer Magazine, Guy Lietch says that the figures seem suspiciously high for a four month period.

According to Lietch , the full extent of losses at SAA will only become known once it starts repaying its loans and interest bills.

Despite his skeptism over the estimates, Lietch maintains that the airline is in “deep trouble”.

It remains unclear how SAA is gaining sustainable financial flows, explains Lietch.

I was beginning to get worried that the airline would not make its salary account soon.

Guy Leitch, Editor and Publisher of SA Flyer Magazine

He says it’s possible that SAA may be running profitably at the operational level, but still insists that airline chairperson Dudu Myeni be replaced.

Listen to the full conversation from The Midday Report with Stephen Grootes:

Read More
Cape Town has the worst traffic and Joburg pips it to the post

Cape Town has the worst traffic and Joburg pips it to the post

TomTom Traffic Index 2017 findings have revealed that Cape Town is South Africa’s most congested city when it comes to traffic.

What to expect in Gordhan's #Budget2017

What to expect in Gordhan's #Budget2017

CEO of Business Unity SA says they are hoping to see fiscal consolidation in today's budget speech.

Foreigners selling drugs should be deported - Mamelodi Residents

Foreigners selling drugs should be deported - Mamelodi Residents

Mamelodi Concerned Residents says illegal march against foreign immigrants will go ahead as planned on Friday.

Cabinet will decide to appeal court ruling on ICC withdrawal notice, or not

Cabinet will decide to appeal court ruling on ICC withdrawal notice, or not

The High Court has ruled that executive's notice to withdraw from ICC without Parliamentary approval is unconstitutional.

Sassa has not lodged papers to extend CPS contract

Sassa has not lodged papers to extend CPS contract

Sassa still not lodged papers with the ConCourt to allow 'unlawful' contract with Cash Paymaster Services (CPS) to be extended.

SA soldiers who died in SS Mendi tragedy remembered

SA soldiers who died in SS Mendi tragedy remembered

Today marks the 100th anniversary of the sinking of the SS Mendi in which more than 600 black South African soldiers died.

Popular articles
Mcebisi Jonas refuses to be drawn on rumours of Finance Ministry reshuffle.

Mcebisi Jonas refuses to be drawn on rumours of Finance Ministry reshuffle.

Deputy Finance Minister says Gordhan will deliver a pro-poor budget on Wednesday 22 February in Parliament.

Makasi seeks legal advice for being called Nomvula Mokonyane's 'Ben 10'

Makasi seeks legal advice for being called Nomvula Mokonyane's 'Ben 10'

Central Energy Fund chairman, Luvo Makasi, has denied a City Press report that he calls shots in the Water Affairs Department.

Eusebius McKaiser: Where the hell were you in the making of JZ, Mathews Phosa?

Eusebius McKaiser: Where the hell were you in the making of JZ, Mathews Phosa?

Eusebius McKaiser uses Open Line to send a message to former ANC Treasury who has recently urged Zuma to step down.

Does God exist? A debate

Does God exist? A debate

Eusebius McKaiser hosted a heated debate on God's existence with atheist Jacques Rousseau and believer Mahlatse Winston Mashua.

The benefits (or dangers) of eating once a day

The benefits (or dangers) of eating once a day

Dietitian lambasts author of book punting one meal a day, but trained vet remains firm that humans historically ate like this.

Opinion: Xolani Gwala weighs in on tax hike speculation

Opinion: Xolani Gwala weighs in on tax hike speculation

Democratic Alliance (DA) has announced that it expects Finance Minister Pravin Gordhan to increase personal income tax.

Xenophobia fears simmer in Tshwane

Xenophobia fears simmer in Tshwane

Foreign nationals say police are not protecting them after houses were set alight by angry community members.

You can replace Gordhan with a dog and it would do as good a job - senior journo

You can replace Gordhan with a dog and it would do as good a job - senior journo

Financial journalists Duma Gqubule and Sikhonathi Mantshantsha debate Brian Molefe's eligibility to head National Treasury.

Molefe should reject MP offer (if he stands for excellence)- Eusebius McKaiser

Molefe should reject MP offer (if he stands for excellence)- Eusebius McKaiser

Eusebius McKaiser says if Brian Molefe accepts the offer it would reinforce the idea that he has been a wolf in sheep's clothing.