SAA "in deep trouble" amid reported R1.38bn first quarter loss

It’s reported that South African Airways (SAA) made a net loss of R1.38 billion in the first quarter of its financial year.

Editor and Publisher of SA Flyer Magazine, Guy Lietch says that the figures seem suspiciously high for a four month period.

According to Lietch , the full extent of losses at SAA will only become known once it starts repaying its loans and interest bills.

Despite his skeptism over the estimates, Lietch maintains that the airline is in “deep trouble”.

It remains unclear how SAA is gaining sustainable financial flows, explains Lietch.

I was beginning to get worried that the airline would not make its salary account soon.

Guy Leitch, Editor and Publisher of SA Flyer Magazine

He says it’s possible that SAA may be running profitably at the operational level, but still insists that airline chairperson Dudu Myeni be replaced.

Listen to the full conversation from The Midday Report with Stephen Grootes:

Read More
Teacher’s union Sadtu bars hundreds of members from going to work

Teacher’s union Sadtu bars hundreds of members from going to work

Ray White interviews Gauteng Education Department spokesperson Steve Mabona.

Business Leadership SA suspends KPMG membership

Business Leadership SA suspends KPMG membership

While BLSA and Sasfin have distanced themselves from auditing firm KPMG, Goldfield Mines has chosen to stay with them.

Will Zuma's corruption charges be discussed at ANC's NEC?

Will Zuma's corruption charges be discussed at ANC's NEC?

It is still unclear whether the reinstatement of the President's corruption charges made onto the agenda of the ANC NEC meeting.

Zuma asks UN to sign and adhere to treaty banning nuclear weapons

Zuma asks UN to sign and adhere to treaty banning nuclear weapons

The President addressed the UN General Assembly on Wednesday.

Gauteng Health Dept: Paramedic march, small groups that have abandoned unions

Gauteng Health Dept: Paramedic march, small groups that have abandoned unions

Paramedics in Gauteng are protesting about working long hours and not being paid for overtime.

Red flags that your child may be a victim of bullying

Red flags that your child may be a victim of bullying

In the wake of the death of a 13-year-old schoolboy, clinical psychologist helps parents identify signs of bullying.

Popular articles
KPMG SA’s new CEO opens up about the future of the disgraced auditing firm

KPMG SA’s new CEO opens up about the future of the disgraced auditing firm

The Money Show’s Bruce Whitfield interviews KPMG South Africa CEO Nhlamu Dlomu.

Ocean View activist speaks: We have had 20 murders in 2017 alone

Ocean View activist speaks: We have had 20 murders in 2017 alone

Sharone Daniels, a community activist in Cape Town's Ocean View says they need police intervention to end gang violence.

Civil engineer devises plan to use stormwater in Cape Town

Civil engineer devises plan to use stormwater in Cape Town

Civil engineer and Ph.D. researcher John Okedi speaks to CapeTalk host John Maytham about his plans.

Zuma is the ANC. The ANC is Zuma, the two inseparable - Kgalema Motlanthe

Zuma is the ANC. The ANC is Zuma, the two inseparable - Kgalema Motlanthe

Former President Kgalema Motlanthe sat down for a lengthy and candid interview with 702 and CapeTalk anchor, Eusebius McKaiser.

[WATCH] Day-Zero for water running out fast approaching?

[WATCH] Day-Zero for water running out fast approaching?

A government employee emailed John Maytham about what he or she believes is the real state of play with the Cape water crisis.

Sasfin CEO opens up about dumping KPMG

Sasfin CEO opens up about dumping KPMG

The Money Show’s Bruce Whitfield interviews Sasfin CEO Roland Sassoon.