Corporate Affairs

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    Free Market Foundation seeks to ascertain financial condition of State-owned airlines

    The Free Market Foundation (FMF) announced on Wednesday that it is seeking information on the financial situations of both State-owned airlines, South African Airways (SAA) and SA Express (SAX), by means of Promotion of Access to Information Act applications. This follows the resignation of SAA CEO Vuyani Jarana, which became public knowledge earlier in the week.

    “[I]t is [now] even more urgent that financial accounts for SAA, low cost subsidiary Mango and SAX are subject to public scrutiny before any more government and bank bailouts are made,” stated the FMF in its press release. It pointed out that SAA had not issued any audited financial statements since March 31, 2017 (when it revealed a loss of R5.4-billion), while SAX’s last audited financial statements were released in March 2016.

    SAA did inform Parliament last year that it had made a loss of R5.6-billion in the 2017/2018 financial year. And a Treasury report to Parliament in late November said that SAX was technically insolvent, with liabilities exceeding assets. SAX itself has reported that it expected to make a loss in the 2018/2019 financial year of R669-million.

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    Unions threaten strike over SAA CEO’s resignation

    The National Union of Metalworkers of South Africa and the South African Cabin Crew Association have said their members’ jobs and the future of struggling national carrier SAA are at stake after the resignation of CEO Vuyani Jarana, threatening a possible strike if he is not reinstated. Jarana announced his resignation from South African Airways over the weekend, citing the airline’s mounting debt and lack of support from the government as a shareholder.

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    Unions threaten strike over SAA CEO’s resignation

    The National Union of Metalworkers of South Africa and the South African Cabin Crew Association have said their members’ jobs and the future of struggling national carrier SAA are at stake after the resignation of CEO Vuyani Jarana, threatening a possible strike if he is not reinstated. Jarana announced his resignation from South African Airways over the weekend, citing the airline’s mounting debt and lack of support from the government as a shareholder.

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    City of Cape Town working on refunds for MyCiTi commuters

    The City of Cape Town is working on plans to refund MyCiTi commuters left stranded after the expiry of its contract with the joint venture companies that provide the N2 Express route service, its transport MMC said on Tuesday. The service provides tran…

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    City of Cape Town working on refunds for MyCiTi commuters

    The City of Cape Town is working on plans to refund MyCiTi commuters left stranded after the expiry of its contract with the joint venture companies that provide the N2 Express route service, its transport MMC said on Tuesday. The service provides tran…

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    City of Cape Town working on refunds for MyCiTi commuters after Khayelitsha/Mitchells Plain …

    The City of Cape Town is working on plans to refund MyCiTi commuters left stranded after the expiry of its contract with the joint venture companies that provide the N2 Express route service, its transport MMC said on Tuesday. The service provides tran…

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    TNPA adds new survey craft to its dredging services fleet

    The Transnet National Ports Authority (TNPA) has taken delivery of a new survey craft, the SS Sonar. It is the latest acquisition by TNPA’s dredging services division as part of its ongoing fleet replacement programme.

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    TNPA adds new survey craft to its dredging services fleet

    The Transnet National Ports Authority (TNPA) has taken delivery of a new survey craft, the SS Sonar. It is the latest acquisition by TNPA’s dredging services division as part of its ongoing fleet replacement programme.

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    UNTU signs 7.3% wage increase for PRASA employees

    The United National Transport Union said on Tuesday it had signed a 7.3% wage agreement with the Passenger Rail Agency of South Africa and secured a guarantee that no employee would be retrenched in the next financial year. The agreement will be implemented across the board for all PRASA employees including those who either belong to another union or are not affiliated to any, UNTU general secretary Steve Harris said. UNTU is the majority union at the rail agency.

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    UNTU signs 7.3% wage increase for PRASA employees

    The United National Transport Union said on Tuesday it had signed a 7.3% wage agreement with the Passenger Rail Agency of South Africa and secured a guarantee that no employee would be retrenched in the next financial year. The agreement will be implemented across the board for all PRASA employees including those who either belong to another union or are not affiliated to any, UNTU general secretary Steve Harris said. UNTU is the majority union at the rail agency.

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