SAA's Myeni mauled by all-party MPs

21 September 2016 - 10:18 By BIANCA CAPAZORIO

SAA boss Dudu Myeni, under whose watch the national airline has lost R5.6-billion, got a cross-party mauling from a parliamentary oversight committee yesterday. MPs of all the parties represented on the committee blamed her for the airline's abysmal financial performance.A senior ANC MP complained that SAA was no longer a source of national pride but had in recent years "limped from one crisis to the next."The DA's David Maynier described Myeni - who was hours late for the committee hearing - as a "warlord" and the "ground zero" of the problems at SAA.EFF chief whip Floyd Shivambu blamed SAA's problems on the "madness" of Myeni's decisions.Maynier asked her why she should not resign given the huge financial losses of the carrier.Myeni said she would respond in detail in writing and pointed out that she had not appointed herself as chairman of SAA."The appointment of the board is a cabinet decision," she replied.Parliament's finance committee heard that last week's estimate in the interim financial statements of a loss of R4.6-billion by the airline for 2014-2015 was understated by R1-billion.The airline, which was given another government guarantee, of R4.7-billion, last week has yet to table in parliament its financial reports for 2014-2015 and 2015-2016.Deputy Finance Minister Mcebisi Jonas told MPs that SAA had not been able to complete its financial statements until it was given additional government guarantees.SAA's acting chief financial officer, Phumeza Nhantsi, said the airline's poor financial performance was mainly due to intense competition and much of the airline's expenses being payable in foreign currency.However, Nhantsi said, the airline had benefited from cost savings as a result of lower oil prices and by renegotiating leases.ANC MP Sifiso Buthelezi questioned whether lower oil prices should be seen as a saving or as merely a lucky "windfall".The ANC's Makhosi Khoza asked why the airline, knowing its foreign currency obligations, had done nothing to mitigate them."You can't just be a victim and cry 'foul'."Committee chairman Yunus Carrim also said the national carrier was no longer a "source of pride"...

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