South African Airways

South African Airways remains under-capitalised despite bailout

CAPE TOWN (Reuters) - Even with a government injection of 10 billion rand ($709 million), the struggling South African Airways will remain under-capitalised with a negative equity position of over 9 billion rand, a presentation to parliament showed.<p>Passengers board a South African Airways Boeing …

South Africa

London Buses Are Now Powered by Coffee

Talk about adding caffeine to a morning commute.<p>Attention Londoners: Your morning commute is about to get an added perk. On Monday, British startup bio-bean, in partnership with Shell and Argent Energy, introduced small amounts of their coffee-based biofuel to London's diesel buses—seriously. …

Travel

South African Airways JNB VFA Flight Review: Short-Haul Lie-Flat

The South African Airways JNB VFA Flight Review is part of the South America & Africa Points Heist Trip Report.<p>I flew to Victoria Falls, Zimbabwe on …

Airlines

South African Airways GRU JNB Flight Review: Back in Business

The Star Alliance Lounge Review Sao Paulo is part of the South America & Africa Points Heist Trip Report.<p>Having overstayed my welcome at the Star …

Airlines

South Africa:Zuma Vows Govt Will Continue Supporting Embattled SAA

[News24Wire] The government will continue supporting South African Airways (SAA) as the airline rebuilds itself, President Jacob Zuma said on …

South Africa

SA won’t save itself – but the IMF might

The blows just keep landing. Jacques Pauw’s riveting book, <i>The President’s Keepers</i>, describes (among many other lurid stories of corruption and …

Economics

SAA bailouts could help fund anti-competitive behaviour, Parly told

CAPE TOWN - Bailing out South African Airways (SAA) might keep the airline aloft but could also help fund anti-competitive behaviour on the part of …

Cape Town

Cosatu warns against using workers’ funds as a ‘blank cheque bail-out’ for SAA

Government should not consider using the Public Investment Corporation (PIC) to bail out South African Airways (SAA) until the airline is investment …

Business (South Africa)

Report shows Eskom still in nuclear game, and doubts over authenticity of R6.4bn Jesus painting

Cape Town - A roundup of Thursday's must-read financial news<p><b>Eskom powers ahead with nuclear plans, report shows</b><p>Despite terminating its nuclear new …

Business (South Africa)

SAA closely monitoring Zim situation

(iStock)<p>Cape Town - South African Airways (SAA) has confirmed that its flight operating schedule to the country has not been disrupted by the current …

News (South Africa)

Cosatu concerned that SAA cost-cutting will lead to jobs bloodbath

Cape Town – Trade union federation Cosatu on Friday expressed concern that cost-cutting measures at national carrier South African Airways (SAA) …

Business (South Africa)

Pension funds are not slush funds for SOEs: Cosatu

Parliament - The Congress of South African Trade Unions (Cosatu) on Friday, came out strongly against the use of Public Investment Corporation (PIC) …

Forget about equity partner for SAA - analyst

Cape Town – Forget about finding an equity partner for cash-strapped national airline South African Airways (SAA).<p>Rather, first have a plan for the …

Business (South Africa)

IMF Sees Tough South Africa Budget Unless Fiscal Risk Sorted

South Africa will face more fiscal difficulties and higher financing costs should state-owned companies’ debt continue rising and if the nation’s …

Economy

More oversight of SAA spending needed, Parliament hears

Cape Town - Currently the funding of South African Airways (SAA) has not been undertaken in a deficit-neutral manner, resulting in a projected R3.9bn …

Malusi Gigaba

Be honest about reasons for SAA's problems - Gcwabaza

Cape Town – It is time to go back and dig into the history of South African Airways (SAA) and to uncover the reasons for its problems, Ndabaka …

Business (South Africa)

SAA worst run SOE: Solidarity Research Institute

FILE: If state-owned companies were privately run, most of their management would have been dismissed. Photo: AFP / Gianluigi Guercia<p>JOHANNESBURG - …

News (South Africa)

SAA not booking new flights to Zimbabwe

Zimbabwe

Earn six figures even without a university degree

CAPE TOWN - A job with a great salary is possible, even without a university degree. Take a look at five jobs that do not require a university degree …

South Africa

Treasury rocked as budget chief quits

Cape Town – National Treasury has been rocked by the resignation of its long-time budget head, Michael Sachs.<p>Fin24 has obtained independent …

Business (South Africa)

Cash-strapped Eskom can only pay wages for a few months

JOHANNESBURG - Cash-strapped power utility Eskom has enough cash to pay wages and keep operations going for a few months and does not plan to …

Eskom

POLITICAL WEEK AHEAD: No deadline changes for ANC nominations

The ANC presidential race is expected to intensify this week as the party’s branches finalise nominations ahead of deadlines set for the end of the …

Business (South Africa)

Treasury handed Gauteng Roads Dep R2bn bailouts in two years

Image Credits: Pixabay<p>South Africans are getting sick of the word bailout. From the countless ones for South African Airways to the SABC trying to …

Telkom says gov't has identified potential buyers

<b>Telkom executives have</b> met with government officials to discuss plans to sell a 39% state-owned stake and were told that potential buyers have been …

Malusi Gigaba

Radical economic transformation arose from the ANC - Zuma

Zuma was speaking on the occasion of the House's annual address from the president under the theme "Deepening Unity for Inclusive Growth".<p>He was …

Soap Operas

Life of diplomatic intrigue amid radical changes

I was in his office. Thabo [Mbeki] was there as well. Mandela said: ‘I want continuity. Rusty, we’d like you to continue through this period<p>Tiny …

Business (South Africa)

An airline must not be a political football: Ex- SAA acting CEO

Cape Town - If an airline ends up being used as a political football instead of being operated on business merits, that can be one of its biggest …

Business (South Africa)

Get real, SAA is neither a “strategic” nor a “national asset” – analyst

James Peron<i>JOHANNESBURG — In this brilliantly written piece, James Peron doesn’t hold back in tearing apart the myth that basket-case, South African</i> …

South African Politics

S.Africa to investigate tax service after Zuma gives go-ahead

Gigaba shocked financial markets last month by flagging wider deficits and rising government debt in a closely watched budget speech, attributing the …

Africa

Ex-Eskom exec testifies about 'brazen theft', Gigaba meets World Bank, and bird flu down in Western Cape

Cape Town - Wednesday's top economic and finance reads.<p><b>Payments to Trillian and McKinsey 'brazen theft'- Daniels</b><p>Payments made by Eskom to …

Business (South Africa)