Russell Loubser: SAA - only voters can stop the plundering by ANC cronies

Russell Loubser doesn't know how to sugar coat - and certainly hasn't deviated from his norm in this hard-hitting interview with Biznews.com's Alec Hogg. The long-time ex-CEO of the JSE reflects on his decision to step away from South African Airways in September 2012 because he "had lost confidence in the shareholder." His resignation sparked chairman Cheryl Carolus and half the other directors into following him out the building. In the light of his insights as a director, what has happened since, he reckons, is entirely predictable: in his view the chairman and directors of the airline have long since lost any pretense at running it like a business. Instead, SAA is regarded as a pot of money for the Zuma Administration to dispense largesse and enrich politically connected cronies. The result of this malevolent incompetence will force taxpayers to keep pumping in billions of rand annually - until such time as voters eject the plunderers from office.