Comments on the uncertainty about SAA's future undermines the overall business

Give it away, it won’t fly. It’s a good business but a poorly run business. Shut it down because it is a loss-making business, was what the Finance Minister Tito Mboweni said to investors in New York.

Now we know that his counterpart at Public Enterprise Pravin Gordhan has warned SAA which is facing over R14 billion in debt must be paid by March next year.

Gordhan says SAA needs to implement the turnaround strategy with a greater sense of urgency.

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

Speaking to Bongani Bingwa, CEO of South African Airways, Vuyani Jarana, says it has been a year since he has been in this position and they have made big decisions.

The first thing that you do is tackle the commercial side of the business and you make sure that you can trade so that you can have a greater contribution in terms of gross profit margins and we have done that.

Vuyani Jarana, CEO SAA

He adds that when he got into the business he said it will take three years to break even and that is what it will take as there are no miracles.

So the sense of urgency is correct and we are working very hard in order to transform the business.

Vuyani Jarana, CEO SAA

When asked about what his response is to his naysayers he had this to say:

Any comments or a sense of uncertainty about its future does undermine the overall business and we execute on it. So we have to be very careful about how we position ourselves.

Vuyani Jarana, CEO SAA

He says since the announcement by the minister, there has been panic in the market and they need to assure the market that SAA will continue to trade.


Recommended

by NEWSROOM AI
Read More
"Shut it (SAA) down" says Tito Mboweni'

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

Breakfast Show Host Bongani Bingwa questions what Mboweni's stance on SAA means for the turnaround strategy.

National Gender Summit: Woman serving life for killing abusive husband speaks

National Gender Summit: Woman serving life for killing abusive husband speaks

Survivors of gender-based violence shared moving stories at the summit including one by a woman who killed her abusive husband.

[WATCH] Royal wedding choir surprises passengers with rendition of Stand By Me

[WATCH] Royal wedding choir surprises passengers with rendition of Stand By Me

Khabazela shares tweets and Facebook posts that have gone viral.

'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.

George residents begin evacuations as Outeniqua blaze continues

George residents begin evacuations as Outeniqua blaze continues

The Outeniqua Pass and the Montagu Pass near George remain closed as firefighters continue to battle a veld fire.

'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.

[LISTEN] Will she, won't she? The De Lille/DA dance continues...

[LISTEN] Will she, won't she? The De Lille/DA dance continues...

De Lille told 702's Bongani Bingwa that she has evidence that law firm Bowman Gilfillan was colluding with politicians'

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.

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.

 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.

Like any other head of state Jacob Zuma is entitled to his full pension

Like any other head of state Jacob Zuma is entitled to his full pension

This is according to senior political analyst David Monyae. He says SA is governed by a rule of law and should be adhered to.

7 steps to beat the recession, according to DA leader Mmusi Maimane

7 steps to beat the recession, according to DA leader Mmusi Maimane

Mmusi Maimane has a plan. Ray White (on The Money Show) asks Econometrix Chief Economist Dr Azar Jammine what he thinks of it.

'We might lose certain capabilities without a cash injection' - SANDF

'We might lose certain capabilities without a cash injection' - SANDF

South African National Defence Force Chief, General Solly Shoke says the unit is taking serious financial strain.

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'.

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.

Do you grunt or snort yourself awake at night? 11 signs of sleep apnoea

Do you grunt or snort yourself awake at night? 11 signs of sleep apnoea

Dr Green says obstructive sleep apnoea can have ripple effects on one's health and may lead to conditions like hypertension.

 The ABCs of holiday emergencies (and how to prepare)

The ABCs of holiday emergencies (and how to prepare)

Emergency Medical doctor Dr Charl Van Loggerenberg takes you through all the things you need for any holiday emergencies.

SA prepared and ready for Madagascan pneumonic plague

SA prepared and ready for Madagascan pneumonic plague

Madagascan Health Ministry reported that 343 people had been infected and 42 died from a pneumonic plague outbreak.

Popular articles
[LISTEN] Beware of the 'money bomb' scam this festive season!

[LISTEN] Beware of the 'money bomb' scam this festive season!

CEO of SA Banking Risk Information Center, Kalyani Pillay chats about the new festive season scam that's robbing people blind.

I broke my cell & deactivated my account after I saw Gigaba's vid - Coconut Kelz

I broke my cell & deactivated my account after I saw Gigaba's vid - Coconut Kelz

In the Current Affairs segment, satirical comedian Coconut Kelz chats about the real reason behind Malusi Gigaba's resignation.

[LISTEN] To give your kid a phone or not? That is the question

[LISTEN] To give your kid a phone or not? That is the question

In the parenting feature, creative parenting expert, Nikki Bush chats about the right age to give your child a cellphone.

[LISTEN] Cervical cancer is the only cancer that is caused by sex - Dr Eve

[LISTEN] Cervical cancer is the only cancer that is caused by sex - Dr Eve

Dr Eve discusses cervical cancer and how it can be prevented.

[LISTEN] Is Gqom really music? Callers share their views

[LISTEN] Is Gqom really music? Callers share their views

Callers on the open line discuss class appropriation by musicians and music genres.

Gift of the Givers' Dr Imtiaz Sooliman – angel amongst men – talks about money

Gift of the Givers' Dr Imtiaz Sooliman – angel amongst men – talks about money

"I have no desire for clothes. I have no desire for holidays. I have no desire for outings. All I see is the suffering of people…"

Discovery Bank takes on Capitec Bank, TymeDigital (Patrice Motsepe), Bank Zero

Discovery Bank takes on Capitec Bank, TymeDigital (Patrice Motsepe), Bank Zero

South Africa has a brand-new bank! The Money Show’s Bruce Whitfield interviews Adrian Gore, Discovery Group CEO.

[WATCH] Iceland’s Christmas advert banned- for being too political

[WATCH] Iceland’s Christmas advert banned- for being too political

Khabazela shares tweets and Facebook posts that have gone viral.

Telkom 947 cycle challenge road closures update

Telkom 947 cycle challenge road closures update

Joburg motorists are urged to take note of road closures during the 2018 Telkom 947 Cycle Challenge.