SAA: CitiBank decision underscores need for Myeni’s departure
12 January 2016
The 24 December decision by CitiBank to cancel SAA’s R250 million short-term credit facility has left the already cash-strapped airline in a very precarious position that could leave it insolvent by the end of the week. CitiBank has refused to renew the facility without further government guarantees, a decision that has left it essentially cashless.
This latest disaster, which follows the December announcement that SAA Chairperson, Dudu Myeni, is being investigated by the Hawks for corruption, further underscores the need for her to be removed as a matter of urgency.
It is during Myeni’s tenure that SAA has become the laughing stock of the aviation community, a far cry from its lofty heights of being one of the world’s leading airlines.