The SA Transport and Allied Workers Union (Satawu) on Friday hit out at finance minister Tito Mboweni for suggesting that the embattled state-owned airline SAA should be closed down. Speaking at an event with investors in New York on Thursday, Mboweni said he believed the loss-making national flag carrier should be closed down. “[It] is loss-making, it’s unlikely to sort out the situation, in my view we should close it down… It is unlikely that you are going to find any private-sector equity partner who will come join this asset,” Mboweni said. SAA has recorded losses for about a decade and has run up a massive debt. It needs recapitalisation of close to R22bn over the next three years to turn it around. In the 2017-18 financial year, it made a loss of R5.6bn. Satawu, one of the major unions at SAA, described Mboweni’s statements as “irresponsible”. “Ever since his appointment less than a month ago, Mboweni has seen it fit to make irresponsible statements, including one about e-toll...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now