Cosatu’s general secretary, Bheki Ntshalintshali, criticised the sale of South African Airways (SAA) and the unbundling of Transnet, saying that they were convinced that the mismanagement of state companies was deliberate to pave the way for their partial or complete privatisation.
At this stage, 88 pilots are employed compared to the 600 who had jobs at SAA before the pandemic.
DA standing committee on public accounts member Alf Lees has criticized the deal saying the consortium doesn't even have the funds to honour the deal.
On Friday morning, Public Enterprises Minister Pravin Gordhan announced the sale of 51% of the national carrier to Takatso Consortium.
The struggling airline management said it would be ready to take to the skies if there aren't any disruptions from the raging pandemic and airline staff.
Thomas Kgokolo was appointed to the position on Wednesday night but the official opposition is not happy about the appointment.
It was earlier ordered that Dudu Myeni immediately vacate all directorships she holds, but she said this will have a negative impact on her finances.
She's declined to comment on a letter by six SAA board members who raised concern about her conduct, her disregard for fiduciary duties, and recklessness.
Former SAA Technical board chair and SAA board member Yakhe Kwinana resumes her testimony at the Zondo commission into state capture where she is being questioned on matters to contracts during her time on the SAA board.
Evidence before the state capture commission showed that Swissport was opposed to a 30% BEE deal that would see it losing R90 million of its annual earnings from SAA.
SAA is not the only state-owned enterprise (SOE) that will get funds from the fiscus. Various SOEs will be funded to the tune of more than R20 billion over the next few years.
SAA said that it had received offers from investors, private sector funders and future partners who wanted to kick-start the restructured airline.
It was unclear who the potential entities were who had shown interest in the troubled national airline.
The DPE said all conditions for the business plan were met and implemented, and it was now in the final stages to complete the process.
In a statement on Wednesday, the Department of Public Enterprises said that backing the plan by the BRPs would result in a better return for all parties compared to liquidation.
SAA's business rescue practitioners are under pressure to raise enough money to pay severance packages to the national carrier’s 4,708 employees.
Myeni was testifying in her delinquency case on Thursday brought against her by the Outa and SAAPA.
Former South African Airways board chair Dudu Myeni on Thursday denied that during her tenure at the airline, she would frequently give instructions to the entity's executives and the board.
