Streaming issues? Report here
money-show-thumbnailjpg money-show-thumbnailjpg
The Money Show with Bruce Whitfield
18:00 - 20:00
volume_up
volume_mute

Up Next: SportsTalk with Buhle Madulini
See full line-up
The Money Show with Bruce Whitfield
18:00 - 20:00
Home
arrow_forward
Business

Cash-strapped SAA slammed for multi-million rand salaries

8 June 2018 8:48 AM
Tags:
SAA
SAA bailout
soe
saa ceo

Just this month SAA was handed another R5 billion, bringing the total bailout amount in the past twelve months to R20 billion.

Mail & Guardian political editor Mayuma Letsoalo says it is shocking that a struggling State Owned Enterprise like South Africa Airways (SAA) is still paying its executives such huge salaries.

Speaking on the Political Desk, Letsoalo says the salary of the acting head of legal has doubled to R4.2 million.

It's really shocking, I know the CEO might be saying that there is no other way to turn the company around.

Matuma Letsoalo, Mail & Guardian Political editor

He must realise that this is a public purse.

Matuma Letsoalo, Mail & Guardian Political editor

READ: SAA's R5.6 billon loss no surprise - CEO

Letsoalo says just this month, SAA was handed another R5 billion, bringing the total bailout amount in the past twelve months to R20 billion.

The debt is too deep and you ought to be careful about how you spend the money.

Matuma Letsoalo, Mail & Guardian Political editor

ALSO READ: Treasury believes mix ownership model is the answer for SAA

The CFO might be earning close to a million a month, that's a lot of money.

Matuma Letsoalo, Mail & Guardian Political editor

Listen how must other executives are earning...


8 June 2018 8:48 AM
Tags:
SAA
SAA bailout
soe
saa ceo

Recommended

More from Business

Darkness, no electricity, load shedding

Loadshedding to be implemented from noon today - Eskom COO

10 July 2020 11:03 AM

More generating units have broken down, resulting in the utility battling to meet the high demand for electricity.

Share this:
Read More arrow_forward

wifi-internet-data-broadband-cell-phone-mobile-device-network-providers-123rf

Small Business Focus: How to get your marketing right in a shrinking media world

9 July 2020 8:38 PM

Pavlo Phitidis says focus must be on the customer group you are trying to reach. You've got to get your demographics right.

Share this:
Read More arrow_forward

broken-heart-broke-money-coins-finances-love-relationship-divorce-break-up-123rf

Personal Finance Feature: Julia - The super saver

9 July 2020 8:02 PM

Though leaving corporate to venture into tourism has been a big test of resilience, she is still happy with her decision.

Share this:
Read More arrow_forward

180710sactwu-strikejpg

SA is becoming a country of old people. Median age has risen from 23 to 27

9 July 2020 7:30 PM

Lumkile Mondi says skills and knowledge that have driven a lot of the growth in the past are going to be undermined.

Share this:
Read More arrow_forward

190430-joburg-soca-edjpg

City of Joburg tables R68.1bn budget for 2020/2021

9 July 2020 5:25 PM

This follows several delays which saw the Gauteng government throw the book at the city’s council threatening to place it under administration.

Share this:
Read More arrow_forward

Woman saving money piggy bank mask 123rf 123rfbusiness 123rflifestyle

Supersaver Julia has changed lives, and she can change yours! – Bruce Whitfield

9 July 2020 3:00 PM

Need the inspiration to save? The Money Show’s Bruce Whitfield interviews “Supersaver Julia” at around 7:15 pm tonight.

Share this:
Read More arrow_forward

200106-daniel-mminele-edjpg

Daniel Mminele on his shapeshifting career

8 July 2020 8:43 PM

Absa CEO Daniel Mminele says they had to transition very quickly within a very space of time into operating in a new normal.

Share this:
Read More arrow_forward

171227prieska-arrestjpg

Payment methods ... the good, the bad and the ugly

8 July 2020 8:14 PM

Wendy Knowler says it is expensive to issue or bank a cheque. For example, to deposit a cheque can cost well over R100.

Share this:
Read More arrow_forward

123rf A pile of two hundred rand notes, South African currency money

For the first time in SA there is a specific law on how banks treat customers

8 July 2020 7:42 PM

Caroline Da Silva of the FSCA says they will look into patterns of complaints to see how to change a bank's behaviour.

Share this:
Read More arrow_forward

Flag of Hong Kong

When business, technology and politics collide

8 July 2020 7:15 PM

The most recent example is China’s new security law introduced into Hong Kong.

Share this:
Read More arrow_forward