Showing posts with label SA Express. Show all posts
Showing posts with label SA Express. Show all posts
Thursday, February 21, 2013
SA Express Concerned Over Fuel Hike
According to EWN, SA Express chief executive Inati Ntshanga said that the airline was struggling due to the rising cost of fuel. The price of petrol in South Africa went up by 41 cents a litre, while diesel rose by almost 18 cents. The airline admitted that it was facing tough times financially and said that its goal for the year is to work closer with its ‘brother’ South African Airways, and to remain sustainable. Ntshanga said that while the airline was staying afloat and providing a good service, business was not necessarily booming. “It’s borderline,” he said. “We have to watch every penny we make in the business and we have to tighten our belts.” Despite the demise of 1time Airlines and Velvet Sky, Ntshanga said that he was not concerned that the airline may have to close up shop. “If the prices of fuel continue to rise we’ll all be afraid,” he said. He added that if that were to happen, SA Express may be forced to offer fewer flights.
Tuesday, August 14, 2012
Gigaba Clips Wings of SA Express Board
South Africa’s Public Enterprises Minister, Malusi Gigaba, has fired the board of the state-owned regional airline, South African Express, after the airline failed to present audited financial statements.
With the exception of Bridget Ssamula, the entire board was removed, because of its failure to present its 2011-12 financial statements to Gigaba at its annual general meeting.
This comes after South African Express’s accounts were withdrawn last year, after it emerged that they were unreliable. The auditors cited numerous significant adjustments which were not substantiated with the appropriate audit evidence, reportable irregularities and cast doubt over the future of SA Express.
A new board has been appointed and the chairperson is Andile Mabizela, who has a background in strategy, aviation and law.
He will be supported by a board of directors and their primary mandate is to turn the airline around. The newly-appointed board is required to address a number of critical issues facing the airline - among those: crisis management, stabilising operations and building brand and reputational confidence.
With the exception of Bridget Ssamula, the entire board was removed, because of its failure to present its 2011-12 financial statements to Gigaba at its annual general meeting.
This comes after South African Express’s accounts were withdrawn last year, after it emerged that they were unreliable. The auditors cited numerous significant adjustments which were not substantiated with the appropriate audit evidence, reportable irregularities and cast doubt over the future of SA Express.
A new board has been appointed and the chairperson is Andile Mabizela, who has a background in strategy, aviation and law.
He will be supported by a board of directors and their primary mandate is to turn the airline around. The newly-appointed board is required to address a number of critical issues facing the airline - among those: crisis management, stabilising operations and building brand and reputational confidence.
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