Business In The News South Africa

Dudu Myeni sacked from SAA board

JOHANNESBURG, October 19 – Cabinet has approved sweeping changes to the board of South African Airways and replaced controversial chairwoman Dudu Myeni with JB Magwaza, well-placed sources confirmed on Wednesday evening. At a meeting earlier in the day, President Jacob Zuma’s Cabinet approved a new board which saw Myeni; Tryphosa Mmakeaya; Mzimkhulu Malunga; Siphile Buthelezi; […]

Business Lead South Africa

MPs say SAA must hold annual meeting and replace Myeni

PARLIAMENT, October 5 – Parliament’s standing committee on finance on Tuesday called for South African Airways to hold an annual general meeting next month and to find a replacement for controversial chairwoman Dudu Myeni. “The SAA’s Annual General Meeting (AGM) should be held on 3 November as proposed by Treasury, and the current board chairperson’s term should […]

Business In The News South Africa

DA fails to find support for claim that SAA’s R3 billion lifeline was illegal

PARLIAMENT, October 5 – The Democratic Alliance’s objection that last week’s R.3 billion bailout to South African Airways was illegal seems unlikely to go far after Parliament’s standing committee on finance received a legal opinion Thursday suggesting there was not a clear case to be made for this. Parliamentary legal advisor Frank Jenkins told the […]

Business In The News South Africa

South African Airways fast becoming national liability – Inkatha Freedom Party

CAPE TOWN, September 30 – The culture of open ended bailouts by the South African government for troubled national airline South African Airways (SAA) despite no change in SAA’s business behaviour is the very reason why this state-owned enterprise (SoE) is collapsing, opposition Inkatha Freedom Party said on Saturday. SAA was fast becoming a national […]