Share

Four SAA board members quit

Johannesburg - Four non-executive members of the SA Airways (SAA) board have resigned, the department of public enterprises said on Friday.

In a statement, the department said Public Enterprises Minister Lynne Brown on Wednesday notified members of the SAA board of a special general meeting to be held on October 23.

Among the items on the agenda was the removal of non-executive members of the board.

It said she was acting in her formal capacity as the designated representative of the sole shareholder of the airline, the South African government.

Subsequently, four non-executive directors submitted their formal resignations to Brown by Friday morning.

"It is a pity that some board members have chosen this path. The meeting is intended to give them the opportunity to respond on the record," Brown said.

"I am limiting my comments on the matter of board membership to that at the moment in the interest of fairness to those who do choose to attend the meeting."

She said in general that she and the Minister of Finance Nhlanhla Nene were leading an inter-ministerial task team, which included directors general, focusing on the future of the airline.

"SAA has been making losses over a number of years and any intervention arising from our work will be aimed at getting the company to live off its balance sheet as soon as possible," she said.

The department said, by 14:00 on Friday, no other resignations had been received.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.94
-0.0%
Rand - Pound
23.91
-0.0%
Rand - Euro
20.42
+0.1%
Rand - Aus dollar
12.33
+0.1%
Rand - Yen
0.13
-0.0%
Platinum
908.05
+1.2%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent-ruolie
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders