LETTER: SAA must now be totally free to fail or succeed
The government must step aside completely: it is the only way to guarantee no further bailouts
So SAA is to receive R10.5bn, and there are apparently up to five equity partners waiting in the wings (“SAA’s bailout will pave the way for private investors, says Treasury,” October 29).
The only way for the government to restore any credibility to this is to stop calling these potential investors “equity partners”. The successful bidder must become the new owner of SAA, free to rebrand and reroute, and with full board and management control.
SAA must compete and be free to fail or succeed. The government must step aside completely. This is the only way to guarantee no further “bailouts”.
It will also free up the Treasury, public enterprises minister Pravin Gordhan and, no doubt, countless consultants from trying to solve problems they are ill-equipped to tackle.
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