Busa welcomes SAA board changes

Business Unity South Africa (Busa) on Thursday welcomed the appointment of a new board of directors for South African Airways (SAA) as a step in the right direction to ensuring financial stability and good governance at the State-owned airline.    “The appointment of JB Magawaza, an accomplished businessperson, as chairperson, together with [the appointment of] a number of experienced business persons, will bring much needed capabilities to the board,” said Busa.   It stated that the eradication of wasteful and fruitless expenditure and curtailing losses at State-owned enterprises (SOEs) required urgent support and implementation. “The recent bailouts of SAA by the National Treasury – in the absence of implementable, time-bound measures to address both governance and oversight shortcomings and structural options which can secure the long-term viability of the airline – have been an ongoing concern to business.