Huge SAA flight cancellations

The_Librarian said:
One can but guess what happened. Somebody made a shady deal with somebody, and the engine got fitted, and "forgotten" all about.

Or it was never delivered... but signed off as delivered...
Click to expand...
Look out for a souped up Citi Golf . . . it will make a M*&^RSE noise when it passes you by.....can't miss that Rolls Royce sound.....
 
The_Librarian said:
One can but guess what happened. Somebody made a shady deal with somebody, and the engine got fitted, and "forgotten" all about.

Or it was never delivered... but signed off as delivered...
Click to expand...
Or delivered, collected and delivered again? Logic would dictate serial numbers are controls, but A0LM... vs AOLM... is powerful.
 
The trade unions going ensure that SAA going to put out or theory misery for good
 
Sinbad said:
Just look at the loans they've made up north and the consequences of the ones that have defaulted
Click to expand...
I didn't know anyone defaulted yet. Mind giving some examples? I'd like to go read more.

BTTB said:
really cannot see how any SOE will ever be profitable in South Africa with the socialist policies adopted by the ANC; they will continue to be flounder ad infinitum, dragging the country down with it.
Click to expand...

While I don't disagree about the policies, I want to point out that many SOEs are profitable - of the 20 or listed that are fully state owned (as opposed to ones like Telkom where gov is a large stakeholder), half are profitable:

State-owned enterprises of South Africa - Wikipedia

en.wikipedia.org en.wikipedia.org

The_Librarian said:
So, is it cheaper to lease an aeroplane than to buy the thing outright? :unsure:
Click to expand...

It's complicated. The leasing company makes money by owning and leasing out the planes without having to maintain or fuel them. It's a pretty clean business. The airline saves money on financing costs, and can take on aircraft for short periods and renew, so they are able to maintain a younger fleet (more economical), and grow and contract a bit easier with demand.

The_Librarian said:
Or it was never delivered... but signed off as delivered...
Click to expand...

Most likely this.

Fjorko said:
Look out for a souped up Citi Golf . . . it will make a M*&^RSE noise when it passes you by.....can't miss that Rolls Royce sound.....
Click to expand...

David Kramer has a song about this! Tommy Dippenaar and his Ford Fairlaine...
 
koffiejunkie said:
I didn't know anyone defaulted yet. Mind giving some examples? I'd like to go read more.
Click to expand...

www.cadtm.org

China to take over Zambian international Airport for debt repayment default; neocolonialism? – CADTM

Signing a contract with China is like, ascribing to the boiling frog effect; a fable describing a frog being boiled alive slowly. If you drop a frog suddenly into boiling water, it will jump out, but…
www.cadtm.org www.cadtm.org

Study: "Hidden" Chinese Loans May Sow Seeds of Debt Crisis

Tonga, a nation of 170 islands and just over 100,000 people, is carrying a heavie...
www.maritime-executive.com www.maritime-executive.com


amp.scmp.com

Are Chinese loans putting Africa on the debt-trap express?

Beijing has lent billions of dollars to countries on the continent to build railways, highways and airports but critics say the borrowings are unsustainable.
amp.scmp.com amp.scmp.com
 
hurr durr, always knew there was a catch in those loans.

To add more meat to the above by @Sinbad - Zambia is rich in copper. Chinese govt said they'll build a highway from Zambia copper belt to Maputo.

Payment is copper, of course, so the Chinese are driving the mines at full production. Now, with mines, the deeper you go, the more expensive operations grow.

Going to be interesting to see what happens.
 
koffiejunkie said:
While I don't disagree about the policies, I want to point out that many SOEs are profitable - of the 20 or listed that are fully state owned (as opposed to ones like Telkom where gov is a large stakeholder), half are profitable:

State-owned enterprises of South Africa - Wikipedia

en.wikipedia.org en.wikipedia.org
Click to expand...

That list shows that the most profitable "state-owned" companies are the ones where the government only has a minority stake (e.g. Sasol, Vodacom and Telkom). The ones fully owned by the government show that most large SOEs have significant losses (e.g. Eskom, SAA, Denel, PetroSA, SABC, SA Post Office). The only profitable large SOEs are Transnet, Rand Water, SANRAL and ACSA (and SANParks, if you consider it a large SOE).

If anything, this article convinces me that SOEs should not be fully owned by the government, and should either:
1) have an equity partner that holds a significant minority stake (as in the case of ACSA); or
2) the government should hold a minority stake itself (as in the case of Sasol, Telkom and Vodacom).
 
CTSA said:
That list shows that the most profitable....
Click to expand...

Yeah but I wasn't responding to who is more or less profitable. I was responding to this nonsense:
BTTB said:
really cannot see how any SOE will ever be profitable in South Africa with the socialist policies adopted by the ANC; they will continue to be flounder ad infinitum, dragging the country down with it.
Click to expand...

Not making an argument for or defending SOEs

CTSA said:
If anything, this article convinces me that SOEs should not be fully owned by the government
Click to expand...

I agree, for the most part, provided there are competition for each player.
 
Or keep striking and drive this thing into the ground for the benefit of tax paying South Africans, and I say this with a heavy heart - I have a cousin whose dream it is to be a pilot, he's worked himself from a life of devastating poverty to being a qualified airoplane "mechanic" at SAA.
 
Truly a disgrace that we're at this point with SAA. Completely incompetent
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X