Former South African Airways board member Russell Loubser recently reflected on his decision to step away from the group in a hard hitting interview with Biznews.coms Alec Hogg. In the interview former JSE CEO Loubser said everything thats happened to the state-owned airline was entirely predictable, and in his view the chairperson and directors had long since lost any pretense at running it like a business. Given the judgement today that granted media houses permission to publish a secret memo, the words of Loubser are bearing the ugly truth. It also comes at a time when global airlines are profitable with the main input cost, oil, trading at below $40 a barrel. The leaked memorandum said the airline was insolvent, while the board was…