LIVE: Pravin Gordhan confirms massive SAA loss

2016-09-13 13:45

Finance Minister Pravin Gordhan confirms SAA sustained a massive loss.

LIVE NEWS FEED

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Last Updated at 09:37
13 Sep 18:09
Applause for Gordhan, thanks members for suggestions

13 Sep 18:07
Gordhan says if SAA requires cash, new board must prove return to profitability. Current corporate plan says profit will come in 2021, but “the date is moving”  

13 Sep 18:05
Gordhan says SAA must comply with the law; new board must develop sound business plan, strategy, route review. “What is going to differentiate SAA from other airlines?”

13 Sep 18:03
Gordhan says long haul routes are neither lucrative not profitable, but statements have to be produced if SAA wants to continue the routes

13 Sep 18:02
House quiet for the first time as Pravin Gordhan details SAA status

13 Sep 18:01
Godhan says SA would be insolvent with state guarantees

13 Sep 17:59
Gordhan confirms R4bn loss at SAA

13 Sep 17:58
Board members should ensure that there’s a strategy that’s viable, leave the day-to-day management to the managers

13 Sep 17:57
Gordhan says none of SAA’s R20bn is a cash bailout – it’s a state guarantee

13 Sep 17:56
Gordhan: Give me the evidence for looting or corruption in SAA. These are the early days of going back to basics

13 Sep 17:55
Gordhan set clear guidelines for the new board – it cannot be business as usual

13 Sep 17:54
Pravin Gordhan says challenges are there, what are we going to do about them?

13 Sep 17:51
SAA board will be required to report to Parliament for oversight

13 Sep 17:49
“Cope is only the size of a church choir, is making noise here”

13 Sep 17:48
DA accused of co-opting poor people in elections

13 Sep 17:47
Problems at SAA are bigger than one person  

13 Sep 17:46
SOEs develop the economy to eliminate poverty, increase economic infrastructure, says ANC  

13 Sep 17:42
Privatisation can help SAA as it helped Kenyan Airlines  

13 Sep 17:41
Myeni accused of having former Finance Minister Nene removed  

13 Sep 17:38
SAA is Dudu Myeni’s “personal fiefdom”

13 Sep 17:37
Godi: We need leaders who’s humility and integrity is their strength  

13 Sep 17:36
Scopa chair Godi says SAA’s failure to submit annual report was “worrying and embarrassing”

13 Sep 17:34
Treasury should not respond to the R5bn request because the airline lost more than R1.3bn. SAA is more of a liability than an asset

13 Sep 17:29
We need to accept that SAA has been sick and in ICU for more than a decade – new board will ensure that SAA will serve as developmental role, says ANC

13 Sep 17:28
SAA exposed to exchange rate risk

13 Sep 17:26
SAA operating in a context – airline industry had faced serious challenges since 9/11 and the global economic crisis

13 Sep 17:24
Reported loss at SAA over R1bn, officials who fight corruption suspended, near loss of Hong Kong route. Airline is in dire straits

13 Sep 17:22
ACDP highlights the number of rescue operations for SAA

13 Sep 17:20
Chair denies hearing cat sounds, asks members to respect members of the House

13 Sep 17:17

13 Sep 17:15
SAA failed to publish financial statements: Myeni re-appointment is corrupt  

13 Sep 17:14
Groenewald says SAA should go back to basics

13 Sep 17:13
In 11 years, 11 turnaround strategies that have not worked at SAA. Eight CEOs, six CFOs

13 Sep 17:12
Biggest challenge for SAA is how get rid of the board chair

13 Sep 17:10
Relationship between Dudu Myeni and President Zuma complicates decisions at SAA

13 Sep 17:08
It would make sense for SAA to partner with a typical business entity

13 Sep 17:07

13 Sep 17:06
SAA needs to be investigated over massive golden handshakes, whether principles of governance are being applied, says NFP

13 Sep 17:04

13 Sep 17:03
Total SAA guarantee now at R20bn

13 Sep 17:03
Dudu Myeni re-admitted to a failed board is business unusual

13 Sep 17:02
Insanity has reared its head in SA with SAA receiving yet another government bailout

13 Sep 17:01

13 Sep 17:00
Dudu Myeni is a Zupta and Gupta – even ministers don’t pick up The New Age forcibly given at the airport, says EFF

13 Sep 16:59
SAA is a family enterprise of the Jacob Zuma Foundation, EFF wants Myeni out urgently

13 Sep 16:58
Relationship between SAA chair and president is problematic, says EFF

13 Sep 16:56
Re-appointment of Dudu Myeni was irrational – DA to push for her removal

13 Sep 16:55
SAA losses could have added R100 to all child grants, SAA is technically insolvent

13 Sep 16:54
“The situation at SAA needs robust attention now – not in a year’s time”

13 Sep 16:52
Dudu Myeni accused of having two armed bodyguards – even at closed board meetings

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