SAA to; National Treasury from; Public Enterprises

November 11, 2014, Minister Jeff Radebe, announced that the flag carrier and largest airline, South African Airways (SAA) would now fall under National Treasury and not the Department of Public Enterprises.

The minister said in a post-Cabinet briefing in Pretoria emphasising concern about state-owned entities, including SAA, Eskom and the South African Post Office.

Radebe said Deputy President, Cyril Ramaphosa, has been appointed to deal with a turnaround strategy for these entities.

“These state-owned entities play a critical developmental role within the South African economy. SAA will be transferred from the Department of Public Enterprises to fall under National Treasury. The Presidency will closely monitor the implementation of these turnaround plans.”

SAA on Wednesday, November 10, said it was aggressively re-examining its routes that are costing it R1 billion per annum in order to improve the airline’s dire financial situation.

Chief Executive Officer, Nico Bezuidenhout said; “Our process at the moment, given that the role is reconstituted, is to step through all these controls and government steps and saying ‘let’s see where all the failures exist and correct them.”

Source Wikipedia

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