Thursday, September 8, 2016

Gordhan considers another SAA bailout


PARLIAMENT - Finance Minister Pravin Gordhan wants South African Airways financially viable within the next five years.
SAA has received numerous state bailouts worth over R14-billion.
The airline has requested another R5-billion guarantee from Treasury, despite failing to submit financial statements for the past two years.
Last week cabinet approved the appointment of a 12-member board.
It retained Dudu Myeni as chairperson, something the opposition plans to challenge in court.
The Democratic Alliance claims Myeni is unfit to hold office.
The Inkatha Freedom Party on the other hand, asked the Finance Minister to endorseMyeni as the right person to lead the national carrier.  
“I have full confidence that the board, as a team, will be working at making sure that the right things are done; and there are provisions within the act, within normal governance conduct, to ensure that they be brought in line if they go out of order," Gordhan said.
"My appeal to everyone whose been appointed to this board including miss Myeni is, as has been pointed out by all sides of this house, that this is an important state asset. 
"Above all SAA should be spreading its wings rather than clipping its wings at this point in time, and national interests far more importantly than individual or sectarian interests."

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