WHY IS OUTA CHALLENGING SOUTH AFRICAN AIRWAYS (SAA)?
OUTA is concerned about recent events, decisions and conduct of the board of directors at South African Airways (see listed below), along with other matters of concern which leads us to the opinion that SAA is not managed in the best interests of the public and the state.
The SAA is a state owned entity and in the event of financial stress, is bailed out using funds from the national treasury. This means that tax-payers funds are being used to prop up an ailing entity which ought to be run in a profitable and professional manner. Over the past few years, SAA has received several Billions of rands from Treasury, to assist the airline in meeting its financial obligations. This is a concern to OUTA as the airline has managed to trade profitably in the past and we believe it has every potential to be run as a profitable airline.
Over the past year, there have been several matters of concern about the conduct of the Board in transactions, which has made headline news and enquiries. The compounded effect of these incidents have given rise for OUTA to bring the issues at SAA within their action of engagement, exposure and challenge that which appears to be wrong for not only the state owned entity, but also the country.
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