‘Invisible hand’ at play in SAA suspensions

‘Invisible hand’ at play in SAA suspensions.
‘Invisible hand’ at play in SAA suspensions.
Image: FILE PHOTO

Battle-scarred South African Airways (SAA) has launched a damage-control exercise after it suspended two executives‚ including chief financial officer (CFO) Phumeza Nhantsi‚ who is said to have had a very close relationship with the banks.

Officials from the state-owned airline will soon meet creditors and its shareholders to explain its decision to suspend Nhantsi and CEO of SAA subsidiary SAA Technical Musa Zwane.

The suspensions on Monday were pending disciplinary action by SAA chief executive Vuyani Jarana‚ according to a media release issued on Tuesday.

SAA spokesperson Tlali Tlali said the airline’s board had resolved at its last gathering to institute disciplinary proceedings against the two.

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