SAA posts R5.67bn loss

Old Apr 7, 18, 3:47 pm
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SAA posts R5.67bn loss

SAA Group’s performance for the year ending March 2017 needs to be seen in the context of the important role the airline plays in the aviation sector and the broader South African economy,” said SAA Group Corporate Affairs"

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Old Apr 12, 18, 7:57 am
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Originally Posted by johan rebel View Post
SAA Group’s performance for the year ending March 2017 needs to be seen in the context of the important role the airline plays in the aviation sector and the broader South African economy,” said SAA Group Corporate Affairs"

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Johan
As a South African tax payer I think the SAA Group's performance should be seen as a drain on the South African fiscus.
Long haul flights can very well be done (and are done) by International airlines. Local flights can be done by Comair and others.
The only real use for SAA at the moment are regional destinations.
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Old Apr 12, 18, 8:26 am
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Originally Posted by thijsseh View Post
As a South African tax payer I think the SAA Group's performance should be seen as a drain on the South African fiscus.
Long haul flights can very well be done (and are done) by International airlines. Local flights can be done by Comair and others.
The only real use for SAA at the moment are regional destinations.
Sure, they can be done, but it will be a huge loss of capacity in the short run, and massively higher prices.
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Old May 17, 18, 2:23 pm
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Here we go again . . .

"South African Airways has recorded a R1.8bn (€127.7m) loss in the fourth quarter of the 2017/2018 financial year – R1.2bn (€81.3m) more than was originally predicted.

Revenue was 12% lower than predicted while expenditure surpassed the budget by R400m (€27.1m). Sales on international routes declined 11%. SAA says the decline could be due to increased competition as well as increased negative sentiment towards the airline."

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Old May 18, 18, 3:55 pm
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Originally Posted by johan rebel View Post
"South African Airways has recorded a R1.8bn (€127.7m) loss in the fourth quarter of the 2017/2018 financial year – R1.2bn (€81.3m) more than was originally predicted.

Revenue was 12% lower than predicted while expenditure surpassed the budget by R400m (€27.1m). Sales on international routes declined 11%. SAA says the decline could be due to increased competition as well as increased negative sentiment towards the airline."

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Johan
Ouch, good to know my tax money is being spent well!
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Old May 19, 18, 7:38 am
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Originally Posted by Flame3601 View Post

Ouch, good to know my tax money is being spent well!
Yes, to put this into context: it is about R35 million per South African. Don’t even want to begin to think how much it is per SA taxpayer......
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Old May 19, 18, 10:00 am
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Originally Posted by thijsseh View Post
Yes, to put this into context: it is about R35 million per South African. Don’t even want to begin to think how much it is per SA taxpayer......
I'm not sure how you work that out. R35 million per South African comes to an amount of R1,960,000,000,000,000 ... or R1.96 quadrillion! Also, given that indirect tax accounts for half of tax revenue it's fair to say all 56 million South Africans share this burden!
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Old May 20, 18, 1:07 am
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The grim facts of SAA’s financial mismanagement and the dilemma now facing Government are set out in this informative article:
https://www.dailymaverick.co.za/article/2018-05-14-pravin-gordhans-hobsons-choice-at-saa/

Thanks to gross ineptitude and corruption, the taxpayer will be burdened with this for a long time to come.

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Old May 20, 18, 1:45 am
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Originally Posted by evanb View Post
I'm not sure how you work that out. R35 million per South African comes to an amount of R1,960,000,000,000,000 ... or R1.96 quadrillion! Also, given that indirect tax accounts for half of tax revenue it's fair to say all 56 million South Africans share this burden!
Oops, 😐. Sorry must have been a serious case of ‘mind fog’.
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Old May 20, 18, 1:52 am
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Originally Posted by Cheetah_SA View Post
The grim facts of SAA’s financial mismanagement and the dilemma now facing Government are set out in this informative article:
https://www.dailymaverick.co.za/article/2018-05-14-pravin-gordhans-hobsons-choice-at-saa/

Thanks to gross ineptitude and corruption, the taxpayer will be burdened with this for a long time to come.

Well, clicking that link certainly did not improve my Sunday morning.....
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Old May 20, 18, 3:58 am
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Look privatise the damn thing. Restructure, revaluate and reassess everything and everyone. Comair basically fly their BA operations half empty all year round and still post fairly decent profits, obviously Kulula give a helping hand, but still proves and puts SAA to quite some shame.
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