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

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

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
From Cape to Cairo: 80-year-old Julia travels to Egypt using 20-year-old car

From Cape to Cairo: 80-year-old Julia travels to Egypt using 20-year-old car

‘It took approximately 4 – 5 months because I had to make some stops on the way for repairs.' - Julia Albu, the African Conquest

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Bruce Whitfield interviews La Grange about her and Madiba's attitude to money (hopes and fears, successes and failures, etc.)

Unravelling Gupta links revealed in Parliamentary Eskom inquiry

Unravelling Gupta links revealed in Parliamentary Eskom inquiry

Journalists Sikhonathi Mantshantsha and Kyle Cowan discuss just how the Guptas and their associates helped capture Eskom.

How to make money through ‘buy-to-let’ (using very little of your own money)

How to make money through ‘buy-to-let’ (using very little of your own money)

Bruce Whitfield interviews Francois Janse van Rensburg, author of “Making Money through Buy-To-Let in South Africa".

MTN Walk The Talk with 702: Get your entries in and be part of a united Joburg!

MTN Walk The Talk with 702: Get your entries in and be part of a united Joburg!

Join Joburgers from all walks of life come together peacefully, united in their diversity for a fun family day out.

UPDATE: Chilling WhatsApp from Marli van Breda's ex-boyfriend read out in court

UPDATE: Chilling WhatsApp from Marli van Breda's ex-boyfriend read out in court

Marli van Breda's ex took the stand in the trial of triple murder accused Henri van Breda.

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?