SAA about to hit the wall - airline expert

A statement was made by the former head of SAA's Audit and Risk Committee, Yakhe Kwinana, that South African Airways (SAA) is at risk of going bust if it does not get another government bail-out.

The Midday Report's Stephen Grootes spoke to SA Flyer Magazine's Guy Lietch.

I think that it is about to hit the wall. All the points are coming together to one critical moment.

Guy Lietch , SA Flyer Magazine

The supposition or possibility that Jacob Zuma is using the airline as a pawn in his power game, as a lever, with Pravin Gordhan, is a strong possibility here.

Guy Lietch , SA Flyer Magazine

Lietch says the stakes have risen since the local government elections.

It certainly looks like he (Zuma) is prepared to put the airline on the line to get his particular way with Pravin Gordhan.

Guy Lietch , SA Flyer Magazine

The speculation is that a new finance minister would agree to grant the loan SAA so badly needs. The airline going bust would cause many customers to be let down and lose confidence in SAA. If Hong Kong closes down business with SAA, other destinations will follow suit, says Lietch.

Listen to the interview below:

Read More
Breaking News: Legendary boxing promoter and trainer Nick Durandt has died

Breaking News: Legendary boxing promoter and trainer Nick Durandt has died

Durandt died in a bike accident near Clarens on Friday afternoon.

Africa Melane reviews: Marvel at the majesty of Martin Scorsese's ‘Silence'

Africa Melane reviews: Marvel at the majesty of Martin Scorsese's ‘Silence'

Having faith in the genius of Scorsese will reward you with the genius of one of the best filmmakers of this generation, he says.

[Watch] All the Foreshore Freeway Project proposals

[Watch] All the Foreshore Freeway Project proposals

Take a look at the 6 six proposals that have been received by the City for the Foreshore freeway precinct.

[Cartoon] Who's got the FinMin's ear?

[Cartoon] Who's got the FinMin's ear?

EWN's Dr Jack & Curtis take a look at Malusi Gigaba's recent public snub of economic advisor Chris Malikane.

[Cartoon] Fikile se voet!

[Cartoon] Fikile se voet!

Dr Jack & Curtis take a look at Berning Ntlemeza saying he'd be returning to work as Hawks head despite being booted by a court.

Parenting Feature: Creating an art corner

Parenting Feature: Creating an art corner

Creative parenting expert Nikki Bush explains the benefits of creating an art corner to allow your kids to express themselves.

Popular articles
6 ways the new UIF bill benefits workers

6 ways the new UIF bill benefits workers

The broadened bill will see those who lose their jobs receive money for a longer period when they apply for unemployment benefits.

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

‘My worst fear is being 80 years old and poor’ – famed actor Dr. John Kani

‘My worst fear is being 80 years old and poor’ – famed actor Dr. John Kani

"My earliest memory of money is my father saying, ‘Why do you want to do this thing? How are you going to feed the family?'"

NSFAS to reopen 2017 applications

NSFAS to reopen 2017 applications

National Student Financial Aid Scheme says it will reopen 2017 loan applications after receiving requests for deadline extension.

'Collect experiences, NOT possessions!' - Paul Theron (Vestact MD)

'Collect experiences, NOT possessions!' - Paul Theron (Vestact MD)

Bruce Whitfield interviews the razor-sharp tongued Vestact MD Paul Theron about his money hopes, fears, successes, failures, etc.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?