South African Airways should be shut down, says Mboweni
South Africa’s finance minister said the nation’s troubled flag-carrier should be shut down, casting doubt on president Cyril Ramaphosa’s stated goal of saving what was once Africa’s biggest airline. South African Airways “is lossmaking, it’s unlikely to sort out the situation, in my view we should close it down”, said Tito Mboweni, an outspoken former central bank governor. The closure of SAA would be a powerful admission by Ramaphosa’s govt that it cannot save one of South Africa’s highly indebted state-owned companies, which are critical to the economy. SAA has not turned a profit for years and has needed US$2b of bailouts over the last half-decade to stay in the air — even as other African state-owned airlines such as Ethiopian Airlines and RwandAir have overhauled operations. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-11-02/star/south-african-airways-should-be-shut-down-says-mboweni
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South African Airways should be shut down, says Mboweni
South Africa’s finance minister said the nation’s troubled flag-carrier should be shut down, casting doubt on president Cyril Ramaphosa’s stated goal of saving what was once Africa’s biggest airline. South African Airways “is lossmaking, it’s unlikely to sort out the situation, in my view we should close it down”, said Tito Mboweni, an outspoken former central bank governor. The closure of SAA would be a powerful admission by Ramaphosa’s govt that it cannot save one of South Africa’s highly indebted state-owned companies, which are critical to the economy. SAA has not turned a profit for years and has needed US$2b of bailouts over the last half-decade to stay in the air — even as other African state-owned airlines such as Ethiopian Airlines and RwandAir have overhauled operations. <br/>
