Politicians and tenderpreneurs bleeding SAA dry - Mantshantsha

SAA in not capable of recovery under the current management team led by chairperson Dudu Myeni, says Financial Mail's Sikonathi Mantshantsha.

Treasury confirmed over the weekend a further R2.3 billion bailout for the cash-strapped national carrier.

LISTEN: What's happening to SAA may be the beginning of the end

The national carrier has been bankrupt and surviving on state-guaranteed loans, and failing to submit its financial statements for years, says Mantshantsha.

According to Mantshantsha, the beleaguered airline needs leadership change and specialist expertise in aviation.

The only thing that needs to be done about SAA is to fix governance. That's starts by putting people who know what their doing in the airline.

Sikonathi Mantshantsha, deputy editor at the Financial Mail

Read: Concerns raised over SAA's R2.3 billion bailout

SAA has been used as a cash cow for all sorts of tenderpreneurs who have all but milked the company. You and I [taxpayers] are paying for this.

Sikonathi Mantshantsha, deputy editor at the Financial Mail

He says Finance Minister Malusi Gigaba has been complicit in the downfall of SAA, as far back as when he was minister of public enterprises.

Also read: SAA marred by lack of good governance says analyst

Meanwhile, Parliament's Standing Committee on Finance has accused Treasury of failing in its oversight role of SAA.

Take a listen to his analysis:


This article first appeared on CapeTalk : Politicians and tenderpreneurs bleeding SAA dry - Mantshantsha


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