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:

Read More
Veterans and ANC not on same page about terms of consultative conference

Veterans and ANC not on same page about terms of consultative conference

ANC vets want civil society groups present at the consultative conference, which they want held separately from another meeting.

Top SABC journos applauded for brave testimony

Top SABC journos applauded for brave testimony

EWN's Gaye Davis summarises the evidence of the SABC journalists who appeared before the ad hoc committee in Parliament.

If you're gona be a hero (and smash a car window), make sure you can prove harm

If you're gona be a hero (and smash a car window), make sure you can prove harm

A criminal lawyer explains what leg citizens can stand on if they witness a child or pet locked in a vehicle in risky conditions.

SAA admits R5 billion loss

SAA admits R5 billion loss

SAA finally releases financials confirming loss for the past two years, and Myeni arrives late for Parly Portfolio Comm briefing.

Claims that Mango is in cahoots with SAA must be investigated - economist

Claims that Mango is in cahoots with SAA must be investigated - economist

SAA admits it provided 10 aircrafts to the low-cost airline at a significantly discounted rate, while paying market prices.

SAA CEO discusses the airline’s huge operating loss and how Treasury will assist

SAA CEO discusses the airline’s huge operating loss and how Treasury will assist

Financial results are out; SAA is still bleeding (fuel hedging means cheap oil won’t help) and Treasury is reluctant to help.

Popular articles
Why try to remove such an outstanding Minister? - Nick Binedell (Gibs)

Why try to remove such an outstanding Minister? - Nick Binedell (Gibs)

The Money Show’s Bruce Whitfield interviews Gordon Institute of Business Science’s Professor Nick Binedell.

'Zuma will ensure Cabinet reshuffle doesn't look like Nene/Van Rooyen Part 2'

'Zuma will ensure Cabinet reshuffle doesn't look like Nene/Van Rooyen Part 2'

Analyst Nic Borain says it's unclear whether Zuma's decision to ask Gordhan to return home is related to a Cabinet reshuffle.

Analysis: Possible reasons why Gordhan ordered to return by Zuma

Analysis: Possible reasons why Gordhan ordered to return by Zuma

EWN Reporter Stephen Grootes looks at possible reasons why the President called Pravin Gordhan back into the country.

3 best investments in the world right now (by Mia Kruger)

3 best investments in the world right now (by Mia Kruger)

Hot tip alert! Mia Kruger of Kruger International Asset & Wealth Management shares her stock picks of the week on The Money Show.

President Zuma asks Gordhan and Mcebisi to return from overseas trip

President Zuma asks Gordhan and Mcebisi to return from overseas trip

Finance Minister Pravin Gordhan confirms he was planning on returning early from an investor roadshow.

Department of Education irons out plans to decolonise English curriculum

Department of Education irons out plans to decolonise English curriculum

The Department of Basic Education wants the curriculum to include more contemporary literature.

William Kentridge (world-renowned South African artist) opens up about money

William Kentridge (world-renowned South African artist) opens up about money

Bruce Whitfield interviews one of our most beloved artists of all time about his money hopes, fears, successes, failures, etc.

5 advantages of leasing instead of owning a car (lower monthly payments!)

5 advantages of leasing instead of owning a car (lower monthly payments!)

Want (or need) a new car? Dale Scorer (a wealth manager at AlphaWealth) reckons you should consider leasing.