Today's Big Stories

Myeni optimistic about new SAA board

South African Airways (SAA) board chairperson Dudu Myeni says the appointment of a new board will lead to improvements at the airline.

Myeni spoke briefly after arriving over an hour late for the meeting between SAA and Parliament’s Standing Committee on Finance on Tuesday afternoon.

The new board members and Deputy Finance Minister Mcebisi Jonas had to help field questions from concerned Members of Parliament (MPs), after Myeni was reportedly unwell this morning.

Several MPs from across all political parties reflected concerns about the national carrier, reports EWN's Gaye Davis.

She said now that there is a new board, it's eased the burden. They were limping along and impossibly stretched.

Gaye Davis, Parliamentary correspondent for EWN

The board met at the weekend to begin discussions on how to restore the airline's good governance and financial stability.

It was announced that SAA's losses for the 2014/15 financial year are R5,6 billion, almost a R 1 billion more than the predicted amount announced last week by Finance Minister Pravin Gordhan.

SAA's Acting Chief Financial Officer Phumeza Nhantsi explained that the airline had to take into account contingency liabilities for lost law suits against with Nationwide and Comair.

Myeni thanked the committee for its understanding over her lateness and also thanked the new board.

Listen to the full conversation from The John Maytham Show:

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