SAA's financial woes
Jun 5, 2020, 3:19 pm
#256
Join Date: Mar 2016
Location: CPT,AMS
Posts: 4,412
While not strictly related to financial woes, I thought it's probably worth mentioning:
https://www.da.org.za/2020/06/govern...landing-rights
Whether there's truth in the rumors is yet to be seen I guess.
South Africans who have been stranded abroad were finally and with great relief set to return home today from Amsterdam, the Netherlands, on a KLM Royal Dutch Airlines flight (TB8701) however, they have been informed that the flight is not cleared to land in South Africa.
...
The theory being bandied about is that South African authorities have allegedly unilaterally decided that the bankrupt SAA should be given preference for international flights repatriating citizens to South Africa. As a consequence, there are reports that foreign airlines that are transporting South Africans home, may be refused landing rights in South Africa this weekend. This could potentially create a knock-on effect for foreign citizens currently in South Africa who want to return to their home countries.
...
Rumours are rife that massive funds being paid for SAA repatriation flights and that much of the funds do not get to SAA. It is alleged that the citizen repatriation flights may have become a lucrative operation for middlepersons. Instead of the revenue derived from these flights being paid directly to SAA, the payments apparently get channeled through DIRCO.
...
The theory being bandied about is that South African authorities have allegedly unilaterally decided that the bankrupt SAA should be given preference for international flights repatriating citizens to South Africa. As a consequence, there are reports that foreign airlines that are transporting South Africans home, may be refused landing rights in South Africa this weekend. This could potentially create a knock-on effect for foreign citizens currently in South Africa who want to return to their home countries.
...
Rumours are rife that massive funds being paid for SAA repatriation flights and that much of the funds do not get to SAA. It is alleged that the citizen repatriation flights may have become a lucrative operation for middlepersons. Instead of the revenue derived from these flights being paid directly to SAA, the payments apparently get channeled through DIRCO.
Whether there's truth in the rumors is yet to be seen I guess.
Jun 6, 2020, 6:54 am
#257
Join Date: Jul 2005
Posts: 1,077
While not strictly related to financial woes, I thought it's probably worth mentioning:
https://www.da.org.za/2020/06/govern...landing-rights
Whether there's truth in the rumors is yet to be seen I guess.
https://www.da.org.za/2020/06/govern...landing-rights
Whether there's truth in the rumors is yet to be seen I guess.
Jun 6, 2020, 8:00 am
#258
Join Date: Mar 2016
Location: CPT,AMS
Posts: 4,412
They are allowing foreign governments and carriers to arrange repatriation flights out. While SAA and its merry mob know of many ways to fleece people, you would have expected that they would have forced SAA metal on the foreign governments arranging and/or facilitating repatriation flights. Though I'll admit there is probably some diplomatic mumbo-jumbo that allows foreign governments the right to arrange "passage" out of SA by any means they choose.
Jun 7, 2020, 2:19 am
#259
Ambassador, Emirates
Join Date: Mar 2006
Location: LGW / AMS / CPT
Programs: SA KL BA EK
Posts: 4,273
When I was on a British repatriation flight CPT/LHR last week, the BA 747 used certainly arrived without any passengers. I would have thought that there might have been SA citizens / permanent residents who would have made use of the option if it had been available.
Jun 8, 2020, 9:18 am
#260
Join Date: Jul 2005
Posts: 1,077
I can add a datapoint here. The other day (about 24ish hours ago) a close family member (SA Citizen) repatriated back to SA from the Middle East (repatriating/started journey in Muscat). He rode SAA metal to JNB. Not necessarily from Muscat... I only got second hand info from another family member that the journey was on SAA metal for the ME-JNB flight.
Jun 9, 2020, 1:56 pm
#261
FlyerTalk Evangelist
Join Date: Oct 2000
Posts: 14,352
SAX - Liquidators Missing in Action
Or maybe they are missing in inaction?
"SA Express has been granted a three-month extension by the high court to remain in provisional liquidation, despite its liquidators being a no-show at the standing committee on public accounts (Scopa) virtual meeting yesterday. The liquidators and BRPs were set to brief Scopa on SAX’s liquidation process but did not show up. Mkhuleko Hlengwa, Chairperson of Scopa ... confirmed the liquidators would be called to appear before the committee next Wednesday and said he would seek permission for the issuing of subpoenas to summon them, if necessary."
Source
Bizzare!
Johan
"SA Express has been granted a three-month extension by the high court to remain in provisional liquidation, despite its liquidators being a no-show at the standing committee on public accounts (Scopa) virtual meeting yesterday. The liquidators and BRPs were set to brief Scopa on SAX’s liquidation process but did not show up. Mkhuleko Hlengwa, Chairperson of Scopa ... confirmed the liquidators would be called to appear before the committee next Wednesday and said he would seek permission for the issuing of subpoenas to summon them, if necessary."
Source
Bizzare!
Johan
Jun 10, 2020, 10:11 am
#262
Join Date: Jul 2005
Posts: 1,077
Southern & East African Tourism Update
SAA delays domestic ops
2 hours ago
SAA will not resume domestic operations next week as previously communicated by the airline.
The airline sent out a statement to the trade, which was confirmed by Louise Brugman, spokesperson for the Business Rescue Practitioners (PRPS) – Siviwe Dongwana and Les Matuson – saying it would re-accommodate passengers booked on the Johannesburg to Cape Town route, which were set to commence from June 15 on Mango.
“Expect notifications on the GDS queues,” SAA said.
Agents could also expect a notification in “the next few days” indicating the support departments that will be operational to assist with re-accommodation queries, the statement said.
SAA delays domestic ops
2 hours ago
SAA will not resume domestic operations next week as previously communicated by the airline.
The airline sent out a statement to the trade, which was confirmed by Louise Brugman, spokesperson for the Business Rescue Practitioners (PRPS) – Siviwe Dongwana and Les Matuson – saying it would re-accommodate passengers booked on the Johannesburg to Cape Town route, which were set to commence from June 15 on Mango.
“Expect notifications on the GDS queues,” SAA said.
Agents could also expect a notification in “the next few days” indicating the support departments that will be operational to assist with re-accommodation queries, the statement said.
Jun 18, 2020, 3:29 pm
#264
FlyerTalk Evangelist
Join Date: Oct 2000
Posts: 14,352
SAA rescue plan ‘inadequate’ says government
"Government is concerned the business rescue plan for SAA has not “adequately achieved” its objectives, but says it supports the plan “where it results in a viable, sustainable airline that provides integrated domestic, regional and international flight services”. ... The business rescue plan proposes that Government spend another R26bn (€1.35bn) in rescuing SAA. "
Source
A textbook case of throwing good money after bad, and then straight down the drain for good measure.
Johan
Source
A textbook case of throwing good money after bad, and then straight down the drain for good measure.
Johan
Jun 19, 2020, 5:13 am
#265
Ambassador, Emirates
Join Date: Mar 2006
Location: LGW / AMS / CPT
Programs: SA KL BA EK
Posts: 4,273
"Government is concerned the business rescue plan for SAA has not “adequately achieved” its objectives, but says it supports the plan “where it results in a viable, sustainable airline that provides integrated domestic, regional and international flight services”. ... The business rescue plan proposes that Government spend another R26bn (€1.35bn) in rescuing SAA. "
Source
A textbook case of throwing good money after bad, and then straight down the drain for good measure.
Johan
Source
A textbook case of throwing good money after bad, and then straight down the drain for good measure.
Johan
And somewhere upthread I was naive enough to think they would finally close this money absorbing sponge down. I guess there are still to many people on too many gravy trains for that to happen...
Jun 22, 2020, 2:07 pm
#266
FlyerTalk Evangelist
Join Date: Oct 2000
Posts: 14,352
Airlink pushes to have SAA liquidated
"Airlink has filed urgent court papers for the provisional liquidation of SAA, the replacement of the current business rescue practitioners, and is trying to stop creditors from voting on the proposed business rescue plan."
Source
Johan
Source
Johan
Jun 29, 2020, 12:43 pm
#267
FlyerTalk Evangelist
Join Date: Oct 2000
Posts: 14,352
Real cost to save SAA is R35.5bn
"The rescue of SAA will cost a whopping R8.6bn (€443.64m) more than calculated in the current business rescue plan, totalling R35,5bn (€1.83bn) – not R26.9bn (€1.39bn) as presented by the business rescuers, says Aviation Economist Joachim Vermooten."
Source
Johan
Source
Johan
Jul 16, 2020, 7:39 am
#269
Join Date: Jul 2005
Posts: 1,077
Southern & East African Tourism Update
Breaking news: SAA BRPs decline to comment on Govt letter of support
Today 05:15 - by Hilka Birns
SAA’s business rescue practitioners declined to comment this morning on an announcement that a letter of support committing Government to funding the rescue of SAA was delivered to them yesterday.
https://www.dailymaverick.co.za/arti...g-for-new-saa/
It’s not clear how the new money for SAA will be raised by the National Treasury at a time when the government is cash-strapped. It’s also not clear if the Treasury will appropriate the required funds from deteriorating public finances. But they have agreed to do it, and that’s a start. Or an end.
Awful lot of money to buy 2,700 votes of retrenched employees.
Breaking news: SAA BRPs decline to comment on Govt letter of support
Today 05:15 - by Hilka Birns
SAA’s business rescue practitioners declined to comment this morning on an announcement that a letter of support committing Government to funding the rescue of SAA was delivered to them yesterday.
https://www.dailymaverick.co.za/arti...g-for-new-saa/
It’s not clear how the new money for SAA will be raised by the National Treasury at a time when the government is cash-strapped. It’s also not clear if the Treasury will appropriate the required funds from deteriorating public finances. But they have agreed to do it, and that’s a start. Or an end.
Awful lot of money to buy 2,700 votes of retrenched employees.
Jul 16, 2020, 1:43 pm
#270
FlyerTalk Evangelist
Join Date: Oct 2000
Posts: 14,352
Perfect time to add some race complaints to an already toxic mix.
"The Black Management Forum (BMF) has questioned the appointment of Philip Saunders as interim CEO of South African Airways. Saunders joined SAA as chief commercial officer in August last year. He was appointed the airline's interim CEO this week. The BMF is calling on Minister of Public Enterprises, Pravin Gordhan, to reconsider the appointment. In the view of BMF President Andile Nomlala, "it sends a clear message to black professionals that they will always be secondary considerations"."
Source
Johan
Source
Johan