SAA's financial woes
May 11, 2020, 12:53 pm
#226
Join Date: Oct 2013
Posts: 64
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
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
May 15, 2020, 1:40 pm
#227
FlyerTalk Evangelist
Join Date: Oct 2000
Posts: 14,352
"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
Good luck with that!
Source
Johan
May 16, 2020, 6:15 am
#228
Join Date: Dec 2009
Location: near Heathrow
Programs: BA GGL/CCR, GfL (OWE), SA LifePlat (*G), BD Gold to the end, Hilton Diamond
Posts: 2,911
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?
Are these returning to lessor or positioning for repatriation flights?
May 16, 2020, 9:41 pm
#229
FlyerTalk Evangelist
Join Date: Apr 2001
Location: MEL CHC
Posts: 21,029
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
May 18, 2020, 12:56 pm
#230
FlyerTalk Evangelist
Join Date: Oct 2000
Posts: 14,352
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
Source
Johan
May 20, 2020, 12:52 pm
#231
FlyerTalk Evangelist
Join Date: Oct 2000
Posts: 14,352
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
Full story here.
Johan
May 20, 2020, 5:29 pm
#232
Join Date: Apr 2008
Posts: 220
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/
https://onemileatatime.com/south-afr...other-bailout/
May 21, 2020, 6:22 am
#233
Ambassador, Emirates
Join Date: Mar 2006
Location: LGW / AMS / CPT
Programs: SA KL BA EK
Posts: 4,273
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/
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.
May 21, 2020, 1:42 pm
#235
FlyerTalk Evangelist
Join Date: Oct 2000
Posts: 14,352
"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
May 22, 2020, 3:06 am
#236
Ambassador, Emirates
Join Date: Mar 2006
Location: LGW / AMS / CPT
Programs: SA KL BA EK
Posts: 4,273
"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!
May 27, 2020, 1:04 pm
#237
FlyerTalk Evangelist
Join Date: Oct 2000
Posts: 14,352
SAA rescuers pour cold water on plan to resume domestic flights
"South African Airways’ plan to restart domestic flights in mid-June has been called into question by its rescuers, who have criticised the airline for releasing an “unvetted” public statement that created an “unfair expectation” among stakeholders."
Source
Johan
Source
Johan
May 29, 2020, 7:51 pm
#239
Join Date: Dec 2002
Location: Washington, D.C.
Programs: UA Premier 1K: PlAAtinum; DL SM, MM; Marriott Gold; CO Plat Emeritus; NW Plat Emeritus
Posts: 4,776
"They said they had in fact cut monthly running costs with savings of half a million rand."
Seriously??? Love to know what their fees are that they're sucking out.
Seriously??? Love to know what their fees are that they're sucking out.
May 30, 2020, 2:46 am
#240
Ambassador, Emirates
Join Date: Mar 2006
Location: LGW / AMS / CPT
Programs: SA KL BA EK
Posts: 4,273
Minister of Public Enterprises Pravin Gordhan told Parliament in a previous briefing that he is questioning the way the business rescue practitioners have been spending the R5.5 billion post-commencement funding received.
Various consultancies had been brought in without evidence of what they had actually done, Gordhan said. He wanted full access to all of that information to evaluate whether it was value for money.
Source