Gravy plane?South African Airways (SAA) has lost nearly R14 billion since 2002.
That's according to Public Enterprises Department in response to a written question from the Democratic Alliance in Parliament.
The government has given SAA a total of over R12 billion in financial support since the beginning of 2004.
The airline's total debt stood at R17.7 billion as at March 31 this year.
Meanwhile, SAA CEO Khaya Ngqula has been paid almost R20 million since his appointment on October 15, 2004, it emerged today.
In written reply to a parliamentary question, Public Enterprises Minister Brigitte Mabandla said Ngqula's salary and fund contributions totalled R2 295 000 in 2004/05.
In 2005/06, he received a salary and fund contributions of R5 million, as well as a performance bonus of R1 850 000.
His salary and fund contributions again totalled R5 million in 2006/07, and again in 2007/08, when he also received a "retention premium" of R687 669.In the four years he has been SAA CEO, Ngqula has thus taken home R19 832 669.
Mabandla said Ngqula's contract would expire in October 2010.
"At this stage no consideration is being given to replacing the CEO of SAA.
The airline operates in a tough commercial environment and the current management team and CEO continue to sustain SAA's high service standard in a difficult market environment," she said.
4 Opinion(s):
Unbe-fucking-lievable!
Just once, ONCE, I'd like to see the ANC admit they fucked up. Just once, is that too much to ask?
Instead we get the same bullshit excuses and the taxpayer keeps dishing out.
I'm going to get me one of these BEE jobs. I've painted my skin black, it just learning how to be totally fucking useless that has still got me stumped.
Hey mawn, face the nearest wall, step back about 100 paces, start running full speed towards the wall and smash your head into the wall. That should knock off a few IQ points and you'd walk around dazed like these douche bags.
This goes against every sound business principle. Encouraging failure? We'll I supose it is teh south african way
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