SAA#1

First published 19 Nov 2015

(With acknowledgements to Business Day). SAA, now under Treasury supervision, had a contract to lease five A330s from Airbus. CEO Dudu Myeni, solely off her own bat, tells Airbus this is to be renegotiated to a sale by Airbus to an unnamed third party, apparently with severe consequences for cashflow and triggering government guarantees. It seems that the Public Finance Management Act’s procurement regulations may be circumvented. This has not been discussed with SAA executives and Treasury warnings have been ignored to date. The third party will presumably lease to SAA on terms advantageous to that party and those with interests in it. Myeni holds some of her SAA meetings at Jacob Zuma’s house and appears regarded as untouchable. This happens while we Dudu.

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