Streaming issues? Report here
Kieno Kammies 2019 1500 BW Kieno Kammies 2019 1500 BW
Today with Kieno Kammies
09:00 - 12:00
volume_up
volume_mute

Up Next: The Midday Report with Lester Kiewit
See full line-up
Today with Kieno Kammies
09:00 - 12:00
Home
arrow_forward
Business
fiber_manual_record
Opinion

It’s official! We're getting a brand-new, taxpayer funded (R16 billion) airline

14 July 2020 6:26 PM
Tags:
South African Airways
Pravin Gordhan
SAA
The Money Show
Bruce Whitfield
Guy Leitch
Public Enterprises Department
Department of public enterprises
Arabile Gumede
Business Rescue Practioners
BRPs
BRP
Business Rescue Plan

SAA is dead! Long live SAA? Arabile Gumede interviews Guy Leitch, Managing Editor at SA Flyer Magazine.

Creditors have approved the business rescue plan for South African Airways (SAA), enabling the government to launch a new taxpayer-funded airline.

Image credit: Christopher Griner (https://www.flickr.com/photos/air_traveller/)

The new airline will need to take R16 billion from South Africa’s dwindling kitty to take off.

The airline will also need additional funds for 1000 employees who will be hired to form part of the new airline.

The Department of Public Enterprises has appointed Phillip Saunders as acting CEO, and will announce a new board "soon".

Retrenchment packages will now be paid to more than 2700 employees.

Arabile Gumede (in for Bruce Whitfield on The Money Show) interviewed Guy Leitch, Managing Editor at SA Flyer Magazine.

Gumede also spoke to Advocate Christopher Shabangu, Deputy President of the South African Cabin Crew Association.

The routes are much more constrained. It’ll fly 25% of what it used to…

Guy Leitch, Managing Editor - SA Flyer Magazine

The R16 billion is not a real number… if you add all the numbers together you get to nearly R30 billion.

Guy Leitch, Managing Editor - SA Flyer Magazine

Mr Saunders… his CV is remarkably lightweight.

Guy Leitch, Managing Editor - SA Flyer Magazine

We’re not happy about the interim CEO… Two steps forward, 20 steps back… The same people who brought the airline down are the people who must take it forward…

Advocate Christopher Shabangu, Deputy President - South African Cabin Crew Association

Government doesn’t have money – that’s understandable… we need a strategic partner. Government will have to relinquish shares in the state-owned company to a strategic partner…

Advocate Christopher Shabangu, Deputy President - South African Cabin Crew Association

Listen to the interview in the audio below.


14 July 2020 6:26 PM
Tags:
South African Airways
Pravin Gordhan
SAA
The Money Show
Bruce Whitfield
Guy Leitch
Public Enterprises Department
Department of public enterprises
Arabile Gumede
Business Rescue Practioners
BRPs
BRP
Business Rescue Plan

More from Business

waiter jpg

'Some restaurants are holding on to waiters' tips to claw back their losses'

12 August 2020 7:53 PM

Yes, restaurants are struggling, but that doesn't make it ok to shortchange staff says Wendy Knowler on The Money Show.

Share this:
Read More arrow_forward

Sars online tax return revenue service 123rfbusiness 123rfpersonalfinance

Have you been auto-assessed by Sars? Here's what you need to know

12 August 2020 7:34 PM

Tax expert Thamsanqa Msiza (Tax Consulting South Africa) tells The Money Show what taxpayers need to check and be aware of.

Share this:
Read More arrow_forward

Dandelion flower

It has not been a good year for rubber

12 August 2020 7:15 PM

The wheels may be coming off for the substance gets us around the world

Share this:
Read More arrow_forward

Cyril Ramaphosa

Is Ramaphosa ready to announce Level 2? What an economist would like him to say

12 August 2020 6:51 PM

The Money Show's Bruce Whitfield interviews Kevin Lings, chief economist at Stanlib Asset Management.

Share this:
Read More arrow_forward

CCTV surveillance Big Brother Banksy 123rf

Big Bru is watching! (And selling your personal data to insurers and the like)

12 August 2020 2:40 PM

CCTV camera networks can assist in alleviating crime. But we must avoid dystopia, warns Thami Nkosi (Right2Know).

Share this:
Read More arrow_forward

Maize mealie grain farmer harvest agriculture 123rfbusiness 123rf

Farm attacks and murders are undeniably spiking – Saps data

12 August 2020 1:07 PM

"People are being murdered [on farms] whether they are black, white, coloured or Indian," says Dr Ivan Meyer (W Cape Government).

Share this:
Read More arrow_forward

Rapid  test for antibody detection Covid-19 coronavirus antibody test 123rf

SA gets stock of Covid-19 rapid antibody test kits: 'We can roll out quickly'

12 August 2020 12:09 PM

Want to know if you’ve been infected? Kieno Kammies interviews Graeme Pienaar of medical supplier Direct Retail Goods.

Share this:
Read More arrow_forward

Coffin coronavirus covid-19 death deaths 123rf

It’s worse now than at the height of the HIV pandemic – SA funeral industry

12 August 2020 10:49 AM

Funeral prices are skyrocketing. Refilwe Moloto interviews Manesh Govender (National Funeral Directors Association).

Share this:
Read More arrow_forward

Out of business 123rf 123rfbusiness 123rflifestyle

R200b Covid-19 loan scheme's paid out only R13b. Can a makeover get it to work?

11 August 2020 8:48 PM

Since it launched in May, the scheme's helped only 6.6% of businesses it targets. Will recent changes lead to improvement?

Share this:
Read More arrow_forward

netflorist-haroldpng

Why NetFlorist should be congratulated for bringing back whiny Harold

11 August 2020 8:14 PM

Branding expert Andy Rice explains why NetFlorist's radio campaign is his advertising hero of the week.

Share this:
Read More arrow_forward

More from Opinion

CCTV surveillance Big Brother Banksy 123rf

Big Bru is watching! (And selling your personal data to insurers and the like)

12 August 2020 2:40 PM

CCTV camera networks can assist in alleviating crime. But we must avoid dystopia, warns Thami Nkosi (Right2Know).

Share this:
Read More arrow_forward

Maize mealie grain farmer harvest agriculture 123rfbusiness 123rf

Farm attacks and murders are undeniably spiking – Saps data

12 August 2020 1:07 PM

"People are being murdered [on farms] whether they are black, white, coloured or Indian," says Dr Ivan Meyer (W Cape Government).

Share this:
Read More arrow_forward

netflorist-haroldpng

Why NetFlorist should be congratulated for bringing back whiny Harold

11 August 2020 8:14 PM

Branding expert Andy Rice explains why NetFlorist's radio campaign is his advertising hero of the week.

Share this:
Read More arrow_forward

Females women entrepreneurs high-five businesswomen 123rfbusiness 123rf

40% of contracts to women: 'ANC unable to issue tenders without corruption'

11 August 2020 3:04 PM

"Only politically connected women will benefit," warns DA Chief Whip Natasha Mazzone.

Share this:
Read More arrow_forward

Shamila Batohi Cyril Rramaphosa

Why has Shamila Batohi taken no action against NPA members accused of crime?

11 August 2020 12:51 PM

"Covid-19 is being used as an excuse," says the DA’s Glynnis Breytenbach. "We must get on with it!"

Share this:
Read More arrow_forward

Female woman businesspeople diverse office 123rf 123rfbusiness

It’s far less risky to lend to a female entrepreneur than a male one - research

11 August 2020 9:26 AM

Studies across the world and industries consistently show women-entrepreneurs have a better risk profile, says Janeesha Perumal.

Share this:
Read More arrow_forward

mask-child-boy-learner-pupil-class-classroom-Covid-19-teaching-school-123rf

Send kids back to school, it’s safer for them there - SA Paediatric Association

7 August 2020 12:57 PM

"Covid-19 is going to be with us for years. On balance, it’s better for kids to be in school," says Prof Mignon McCulloch.

Share this:
Read More arrow_forward

cyril-acejpg

'Arrest Ace Magashule – and 1 or 2 others – then things will move fast'

6 August 2020 1:01 PM

“This is good stuff,” says Wayne Duvenage about the halting of pension payouts to government employees implicated in corruption.

Share this:
Read More arrow_forward

scz-0623jpg

Bantu Holomisa has an idea to remove ANC 'thieves' from power before 2024

6 August 2020 9:36 AM

"If I was President Cyril Ramaphosa, I would take these suggestions seriously," says the UDM leader Bantu Holomisa.

Share this:
Read More arrow_forward

afrika-tikkunjpg

SA needs 'the Madiba compassion' more than ever now, says Afrika Tikkun CEO

5 August 2020 8:54 PM

Marc Lubner on the NGO's programmes for young South Africans and how working with Nelson Mandela inspired his life's work.

Share this:
Read More arrow_forward