SAA a symbol of how poorly SOEs are managed in SA, says Moneyweb editor

The troubles facing national carrier South African Airways (SAA) are indicative of the poor governance at state-owned enterprises (SOEs), says Moneyweb editor Ryk van Niekerk.

SAA is apparently losing as much as R370 million a month, van Niekerk explains.

Over the past five years, SAA has lost R15.7 billion.

 Ryk van Niekerk, editor of Moneyweb

It's a disaster. The company is bankrupt.

 Ryk van Niekerk, editor of Moneyweb

The amounts are astounding and its taxpayers that have to foot that bill.

 Ryk van Niekerk, editor of Moneyweb

The bailouts that SAA has received since 1999 amount to just over R30 billion.

He says SAA is doing very well at an operational level, but faces core problems at a management and board level.

Take a listen:


This article first appeared on CapeTalk : SAA a symbol of how poorly SOEs are managed in SA, says Moneyweb editor


Recommended

by NEWSROOM AI
Read More
Malusi Gigaba rules out privatisation of SAA

Malusi Gigaba rules out privatisation of SAA

Finance minister, Malusi Gigaba, appeared before Parliament's finance committee on Friday morning.

New CEO Jarana must stem the bleeding of SAA cash flow - Guy Leitch

New CEO Jarana must stem the bleeding of SAA cash flow - Guy Leitch

Numsa is marching against poor working conditions at SAA and corruption in the company.

Fundamental problem with SAA is how it has been lead - Gigaba

Fundamental problem with SAA is how it has been lead - Gigaba

On Thursday, National Treasury confirmed that new SAA CEO is Vodacom group executive Vuyani Jarana.

DA encouraged by the new SAA CEO appointment

DA encouraged by the new SAA CEO appointment

Alf Lees, DA shadow deputy finance says Vuyani Jarana has an impressive track record at Vodacom.

Politicians and tenderpreneurs bleeding SAA dry - Mantshantsha

Politicians and tenderpreneurs bleeding SAA dry - 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

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

Stepehen Grootes spoke to Guy Leitch, Editor of FlySA Magazine.

SAA marred by lack of good governance says analyst

SAA marred by lack of good governance says analyst

The National Treasury announced on Saturday that it will financially bailout the ailing South African Airways.

Popular articles
DStv subscription price hikes for 2019

DStv subscription price hikes for 2019

MultiChoice will increase the prices of certain DStv packages from 1 April.

'I got retrenched and it took a toll on my relationship' - on money and intimacy

'I got retrenched and it took a toll on my relationship' - on money and intimacy

Money is one of the top causes of relationship fights and divorce. Dr Eve and callers discuss how it can affect sexual intimacy.

Dr Adriana Marais was on her way to the Red Planet. Then Mars One collapsed

Dr Adriana Marais was on her way to the Red Planet. Then Mars One collapsed

The Money Show’s Bruce Whitfield interviews Marais, a quantum biology researcher with dreams to live on Mars.

'Get ready for tax levy to save Eskom, because the money is simply not there'

'Get ready for tax levy to save Eskom, because the money is simply not there'

Eskom has so much debt it threatens to break South Africa. Bruce Whitfield interviews Dr Adrian Saville of Cannon Asset Managers.

McBride's testimony could implicate MPs in state capture

McBride's testimony could implicate MPs in state capture

Ipid boss Robert McBride is expected to implicate 30 high profile individuals including Members of Parliament in his testimony.

Agrizzi gives the Mokgoro Commission the cold shoulder fearing charges

Agrizzi gives the Mokgoro Commission the cold shoulder fearing charges

Angelo Agrizzi's legal team wrote to the commission informing it that he won't be testifying following being criminally charged.

South Africa just became the world’s hottest destination for oil exploration

South Africa just became the world’s hottest destination for oil exploration

The Money Show’s Bruce Whitfield interviews Stephen Larkin, CEO at Africa New Energies.