THE investigative work for
optimal ownership and
re-structuring of State-owned
airlines, SAA, SAX and Mango,
which was commissioned to
consulting companies, Bain &
Company and Abacus Advisory,
has been completed, according
to National Treasury.
Although no timelines
have been set, government
will assess the proposed
recommendations and make
a decision that aligns with
the Long-Term Turnaround
Strategy proposed by aviation
consulting firm, Seabury.
SAA has yet to submit
its financial reports for the
2016/2017 year. “SAA
was due to appear before
Parliament’s Standing
Committee on Finances at
the end of March to brief the
committee on various matters,
including the finances. The
briefing has yet to take place
following the postponement
and no statement has been
released,” says spokesperson
for SAA, Tlali Tlali.
A group income statement
released by the SAA board in
March showed that the airline
projected a R4,5bn loss for
the 11 months of the 2016-
17 financial year to February.
“There are reasons behind
this financial performance
and they will be presented to
the parliamentary portfolio
committee as soon as the new
date has been set,” says Tlali.
Colin Cruywagen, head of
Communications and Public
Relations at the Department
of Public Enterprises, says
the SAX AGM will take place
before the end of May after
the release of the Auditor
General’s report. SAX’s
financials will be tabled to
parliament within 10 days of
the AGM.
Victor Xaba has been
appointed acting ceo of SAX,
effective April 10 after Inati
Ntshanga's resignation. The
SAA board is expected to
announce the preferred ceo
candidate for approval by the
end of April. A permanent ceo
has still to be secured for lowcost
airline, Mango.
