Congratulations are certainly due to the management of SA Airways (SAA) for steering the airline to a small profit for the first time since 2012.

SAA and its owners — the government — find themselves in a fleeting moment of great opportunity that is ripe for the squandering. It’s a pity, then, that the state-owned enterprise’s (SOE’s) instincts of opaque communications and misleading messaging seem to live on...

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