The lat­est drug lord

Finweek English Edition - - Creating Wealth -

AIR­LINES ARE a risky in­vest­ment. Es­pe­cially now. There’s an old say­ing: if it flies or floats – rent it, don’t buy it. But I wish we could buy SA Air­ways. It must be the po­ten­tial turn­around sit­u­a­tion of the cen­tury. Right now there are prob­lems. It can’t make money. In fact, it loses a lot of money. I don’t un­der­stand why. In SA it still has a near mo­nop­oly at air­ports and on cho­sen routes. And fly­ing SAA isn’t cheap.

I sym­pa­thise with SAA’s staff. It’s a tough job when all you get are com­plaints. I was speak­ing to an SAA pi­lot re­cently, who said he didn’t tell peo­ple what he did. That would just in­vite a long com­plaint about their last flight.

Which takes us to what’s prob­a­bly the main prob­lem at SAA: Khaya Ngqula (though to be fair, any boss at SAA has al­ways been the main prob­lem). Ngqula’s now be­ing in­ves­ti­gated for al­leged in­sider deals.

But bet­ter still, if you’re boss of an or­gan­i­sa­tion and one of your staff is al­legedly found try­ing to smug­gle mil­lions of rand of co­caine into Bri­tain, wouldn’t that make you a drug lord? Ngqula can add that to his CV for his next job ap­pli­ca­tion.

Not that he has to work (and seem­ingly now doesn’t). SAA staff must look at his six-fig­ure salary and sadly shake their heads.

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