"Shut it (SAA) down" says Tito Mboweni'

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.

READ: Let’s stop wasting money, Mr President! – Finance Minister Tito Mboweni

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:


Recommended

by NEWSROOM AI
Read More
'There is no justification to keep pumping money into SAA'

'There is no justification to keep pumping money into SAA'

Managing Editor at SA Flyer Magazine Guy Leitch and SAA spokesperson Tlali Tlali discuss the state of the airline.

Fact Check: Do SA's civil servants get R8 out of every R10  government spends?

Fact Check: Do SA's civil servants get R8 out of every R10 government spends?

Senior Researcher at Africa Check Kate Wilkinson unpacks a statement made by Finance Minister Tito Mboweni.

'Mboweni is too generous, it's a miracle we are not downgraded to junk status'

'Mboweni is too generous, it's a miracle we are not downgraded to junk status'

Sikonathi Mantshantsha says the Finance Minister is too generous by giving SOEs another bailout.

Phetolo Ramosebudi has resigned from Transnet

Phetolo Ramosebudi has resigned from Transnet

Investigative Journalist at amaBhungane Centre for Investigative Journalism Susan Comrie talks about her story on Ramosebudi.

#MTBPS2018 'We cannot sit back and pretend that things are okay'

#MTBPS2018 'We cannot sit back and pretend that things are okay'

Treasury Director General Dondo Mogajane says government has to make very difficult fiscal choices to improve SA's economy.

SAICA welcomes #MTBPS2018

SAICA welcomes #MTBPS2018

SAICA reacts to the medium-term budget speech delivered by Minister of Finance Tito Mboweni.

#MTBPS2018  'SA's economic environment limited the number of policy choices'

#MTBPS2018 'SA's economic environment limited the number of policy choices'

Independent Economist Ndumiso Hadebe gives his analysis of the mid -term budget policy statement.

Let’s stop wasting money, Mr President! – Finance Minister Tito Mboweni

Let’s stop wasting money, Mr President! – Finance Minister Tito Mboweni

Bruce Whitfield interviews Thabi Leoka, Lumkile Mondi (Wits), Peter Attard Montalto (Intellidex) and Treasury's Duncan Pieterse.

The nation should not expect much from the #MTBPS2018 - economist

The nation should not expect much from the #MTBPS2018 - economist

Political economist Lebohang Pheko says she won't be popping any champagne this afternoon for Finance Minister's budget speech.

#MTBPS2018: An in-depth look at South Africa's economic model

#MTBPS2018: An in-depth look at South Africa's economic model

Economists discuss the various economic models used in the world and which one South Africa is using.

Punch-drunk taxpayer? What Minister Tito Mboweni has up his sleeve for us all

Punch-drunk taxpayer? What Minister Tito Mboweni has up his sleeve for us all

Punch-drunk taxpayer? Bonang Mohale (BLSA) and Russel Lamberti (ETM Macro Advisors) on what Tito Mboweni has up his sleeve.

 Nene takes the stand at the Zondo Commission, EFF says he must come clean

Nene takes the stand at the Zondo Commission, EFF says he must come clean

Casac Executive Secretary Lawson Naidoo says there isn't any real evidence behind the EFF's allegations at the moment.

SANDF flatly denies claims of weapons smuggling to Cuba on SAA plane

SANDF flatly denies claims of weapons smuggling to Cuba on SAA plane

SANDF General Solly Shoke told the media that there is no truth in these claims and that the Defence Force is 'above politics'.

SAA: It is only the shareholder who can make pronouncement on privatisation

SAA: It is only the shareholder who can make pronouncement on privatisation

SAA spokesperson Tlali Tlali explains what transpired in their meeting with Solidarity and their stand on privatisation.

What lessons can SAA learn from Ethiopian Airlines?

What lessons can SAA learn from Ethiopian Airlines?

South African Airways (SAA) racked up record losses of R5.7bn in the 2017-2018 financial year.

Popular articles
[WATCH] Refentse Morake continues breaking cultural barriers through his music

[WATCH] Refentse Morake continues breaking cultural barriers through his music

The singer who says he's 'on the border of being Afrikaans and being African' joined Azania Mosaka for this week's #702Unplugged.

What happens to our bodies if we cut out sugar

What happens to our bodies if we cut out sugar

Naked Scientist Chris Smith explains.

Why did Jussie Smollet fake his own attack? Eusebius and listeners weigh in

Why did Jussie Smollet fake his own attack? Eusebius and listeners weigh in

Eusebius McKaiser facilitates a debate on whether or not American actor Jussie Smollet faked his own attack.

[WATCH] SANDF members hilariously mess up a supposedly easy practice run

[WATCH] SANDF members hilariously mess up a supposedly easy practice run

Khabazela shares tweets and Facebook posts that have gone viral.

[LISTEN] Wife of Vele Investments' Madzonga flatly denies VBS involvement

[LISTEN] Wife of Vele Investments' Madzonga flatly denies VBS involvement

Vele Investments CEO Robert Madzonga's estranged wife Khosi shares her side of the story on the VBS saga.

‘We’d be crazy to copy! Sometimes we get it wrong. There's no culture problem'

‘We’d be crazy to copy! Sometimes we get it wrong. There's no culture problem'

The Money Show’s Bruce Whitfield interviews Ian Moir, CEO at Woolworths.

Is EOH corrupt? Is that why Microsoft ran for the hills? Its CEO explains…

Is EOH corrupt? Is that why Microsoft ran for the hills? Its CEO explains…

The Money Show’s Bruce Whitfield interviews Stephen van Coller, CEO at EOH Holdings.

'R23 million for rent a month seems huge. I don't think we could've done better'

'R23 million for rent a month seems huge. I don't think we could've done better'

The Money Show’s Bruce Whitfield interviews Adrian Gore, founder and Group Chief Executive Officer at Discovery Limited.