THE UGLY

Finweek English Edition - - THE WEEK -

South African Air­ways (SAA) is ex­pect­ing to re­port a loss of R3.5bn for the 2016/17 fi­nan­cial year, more than dou­ble the R1.5bn loss it suf­fered in 2015/16. The air­line has lost an es­ti­mated R10.5bn since the ap­point­ment of Dudu Myeni, a close con­fi­dante of Pres­i­dent Ja­cob Zuma, as chair­per­son five years ago, ac­cord­ing to the Or­gan­i­sa­tion Un­do­ing Tax Abuse (Outa). Outa, along with the SAA Pilots As­so­ci­a­tion, has started legal ac­tion to have Myeni de­clared a delin­quent di­rec­tor, which would dis­qual­ify her from be­ing a di­rec­tor or ex­ec­u­tive at any or­gan­i­sa­tion in SA for at least seven years.

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