SAA's financial woes

Old May 11, 20, 12:53 pm
  #226  
 
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I wonder how long SAA are going to pretend they will resume flights in June?
And with what money are they paying their staff, or anything else, now that the court has decided the airline must continue to operate? The government is still not giving a rand to them, are they? At least I hope not
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Old May 15, 20, 1:40 pm
  #227  
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"The restructuring of SAA has always been the first prize pursued by its Business Rescue Practitioners (BRPs), who have been co-operating with government since the start of the process as required by the Companies Act."

Good luck with that!

Source

Johan
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Old May 16, 20, 6:15 am
  #228  
 
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4 SAA 330s (ZS-SXW/X/Y/Z) currently flying across the South Atlantic to GRU.
Are these returning to lessor or positioning for repatriation flights?
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Old May 16, 20, 9:41 pm
  #229  
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Originally Posted by gcuk View Post
4 SAA 330s (ZS-SXW/X/Y/Z) currently flying across the South Atlantic to GRU.
Are these returning to lessor or positioning for repatriation flights?
https://flightaware.com/live/flight/ZSSXW
https://www.airfleets.net/flottecie/...ctive-a330.htm
From https://www.airfleets.net/ficheapp/plane-a330-1236.htm ZS-SXW leased from AAL
AAL maybe https://airleasecorp.com/ (but a big guess)
Other aircraft associated with https://www.aircastle.com/about
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Old May 18, 20, 12:56 pm
  #230  
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Full extent of SAA burden on taxpayers revealed - at last

"SAA received R50.3bn (€2.50bn) in government assistance between 2004 and 2020, R31.243bn (€1.55bn) in cash injections and R19.114bn (€950.62m) in Government guarantees, according to the first draft management report submitted to Parliament since 2017."

Source

Johan
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Old May 20, 20, 12:52 pm
  #231  
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SA Express Heading for the Exit at Full Speed

"The contracts of employees of SA Express have been suspended in terms of the Insolvency Act, they were informed in an internal letter from the airline's provisional liquidator"

Full story here.

Johan
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Old May 20, 20, 5:29 pm
  #232  
 
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It has today been announced that South African Airways will get a 3.8 billion ZAR (~211 million USD) bailout


https://onemileatatime.com/south-afr...other-bailout/
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Old May 21, 20, 6:22 am
  #233  
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Originally Posted by jiffer21225 View Post
It has today been announced that South African Airways will get a 3.8 billion ZAR (~211 million USD) bailout


https://onemileatatime.com/south-afr...other-bailout/

Oh PLEASE. Not AGAIN....

How many respirators can you buy for 3.8 Billion Rand? Those we need.
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Old May 21, 20, 12:19 pm
  #234  
 
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Thumbs down

Originally Posted by thijsseh View Post
Oh PLEASE. Not AGAIN....

How many respirators can you buy for 3.8 Billion Rand? Those we need.

To quote Will Smith. "Aw. Hell no."
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Old May 21, 20, 1:42 pm
  #235  
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Originally Posted by thijsseh View Post
Oh PLEASE. Not AGAIN....

How many respirators can you buy for 3.8 Billion Rand?
Only 3.8bn? You wish!

"SAA’s allocations for 2021-22 and 2022-23 were also announced, at R4.3bn (€218.67m) and R1.7bn (€86.47m) respectively. Tlhakudi said R164m (€8.34m) had been put aside for SA Express for the current fiscal year"

Source

You also just gotta love this:

"The [Public Enterprises] committees also told the department that, in their view, the appointed business rescue practitioners for SAA and SAX had not provided solutions for the challenges that faced the two airlines"

Good grief! Maybe those committees should just take over and run the airlines themselves, then?

Johan
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Old May 22, 20, 3:06 am
  #236  
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Originally Posted by johan rebel View Post

"The [Public Enterprises] committees also told the department that, in their view, the appointed business rescue practitioners for SAA and SAX had not provided solutions for the challenges that faced the two airlines"

Good grief! Maybe those committees should just take over and run the airlines themselves, then?

Johan

But they DID provide solutions! The only possible solutions actually.

Close them down!
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