SAA interdict against media

By Staff Writer
South African Airways (SAA) released a statement this week clarifying its decision to obtain a court interdict against several media agencies “to stop their illegal and inaccurate publication of a privileged internal document of a confidential nature.”
 
Reportedly, the document refers to a deal between SAA and Airbus. The interdict was against BDFM, Moneyweb and Media 24. In addition to preventing them publishing the document, they were also ordered to “remove all references to the opinion including all or any of the contents of the opinion that has already been published on the internet and social media,” explained an article on Times Live.
 
SAA highlighted that it had been advised by its legal team to make no further public statements regarding the “privileged document” and requested that the media respect this decision.
 
In a statement released by National Treasury on behalf of Minister of Finance Nhlanhla Nene, it said: “The Minister of Finance has noted recent media reports about developments at SAA. Media reports about the position of the National Treasury and the Minister on the Airbus swap transaction are premature. SAA last week submitted a section 54 application to the Minister, to restructure the Airbus deal. The National Treasury's Fiscal Liabilities Committee is currently studying the application and will make recommendations to the Minister in due course.”
 
The minister went on to highlight that a decision has not yet been reached on the application by SAA to restructure the Airbus deal.
 
“The Minister will be looking for a deal that benefits the airline financially, or one that does not leave SAA in a worse-off position. The Minister is also concerned about senior management movements at the airline,” explained National Treasury.
 
"Leadership stability is crucial to implementing the Long Term Turn-around Strategy so that the airline can return to financial sustainability. I have therefore requested the board to brief me on these developments and their impact on the operations of the airline," said the Minister.

Recent Articles

Featured Keeping your money safe when travelling overseas

Whether it’s for business or leisure, overseas travel offers you the opportunity to see and experience more of the world. However, it does come with risks, and financial fraud is not the least among them.

The differences between assets and liabilities

There are many investments you’ll make in your lifetime, some of them worthwhile, others not so much. It seems reasonable to imagine that solid investments are assets, and their poorly-performing counterparts are liabilities.

How to avoid being a victim of ATM theft

In South Africa, ATM theft is a big problem. We have a look at what you can do to stay safe while using an ATM, and we consider a couple of tips that are worth keeping in mind.

Should you always buy property with a view to sell?

Property is one of the most significant investments you’ll ever make. Not only does it potentially provide you with a home, but it can offer you a source of rental income, or attract a profit if you decide to sell.

Deals

Black Friday at Hotel Sky

Price: R1,050
When: 25 - 28 November 2021
Where: Sandton and Cape Town

Mangwanani African Spa’s Black Friday Deal

Price: From R699
When: 19 - 26 November 2021
Where: Nationwide

Sundowners special at the President Hotel

Price: Available on request
When: Daily
Where: Cape Town


Latest Guide

Guide to debt rehabilitation solutions