South Africa’s new Finance Minister Tito Mboweni said on Thursday that struggling state-run South African Airways (SAA) should be closed down, adding that decisions over the future of the state carrier were not under his remit.
Breakfast Host Bongani Bingwa questions what that means for the turnaround strategy as President Cyril Ramaphosa has been in support of the turnaround strategy.
But now we find that it is in a loss-making situation and it is unlikely that the situation is going to be sorted out so we need to close SAA down, that is what Tito Mboweni said at this investor conference in New York.— Bongani Bingwa, Breakfast Show Host
Saying even privatisation isn't really going to work as there is not a great likelihood that they could attract a partner who would be able to invest what has essentially become a dud. Shut it down, says the man in his own words.— Bongani Bingwa, Breakfast Show Host
He adds that Mboweni said that the situation at SAA is unlikely to be sorted out.
Listen below to the full comment by Bingwa: