Huge SAA flight cancellations

[The_Librarian]

I've seen this referenced a few times. Could you point me to what this refers to?

From the book :

"People are stupid; given proper motivation, almost anyone will believe almost anything. Because people are stupid, they will believe a lie because they want to believe it's true, or because they are afraid it might be true. People's heads are full of knowledge, facts, and beliefs, and most of it is false, yet they think it all true. People are stupid; they can only rarely tell the difference between a lie and the truth, and yet they are confident they can, and so are all the easier to fool."

 

[koffiejunkie]

From the book :

Thanks! I was sort of expecting something from a Terry Pratchet book - close enough

 

[BeerIsNotGood...]

666

Now 667 all is right with the world

 

[The_Librarian]

#668

let's talk about SAA rather

 

[The_Librarian]

Would love to see the union leaders' faces when they realize just what business rescue means...

 

[MachoPants]

It's usually the likes of Masina that resort to mud politics when they're out of depth and out of breath. SAA is entirely ANC's doing, and largely result of the past 10 years.

True, just waiting with beer looking at ocean and mountain while on vacation

 

[Sinbad]

True, just waiting with beer looking at ocean and mountain while on vacation

No, it's longer than 10 years.
Remember in 2004 they lost R6bn on a really bad fuel hedge, and another 2bn in the next 6 years on the same thing.

 

[TysonRoux]

WTF

SAA to receive R2 billion lifeline

The airline's creditors will also provide an additional R2 billion as it begins the journey to restructuring its business and financial affairs from Thursday.

ewn.co.za

 

[MachoPants]

No, it's longer than 10 years.
Remember in 2004 they lost R6bn on a really bad fuel hedge, and another 2bn in the next 6 years on the same thing.

No I cant remember all the shenanigans of what the ANC got upto, let alone how much SAA raped the fiscus

 

[daveza]

If SAA goes under does that mean no more free flights for govt members ?

 

[The_Librarian]

WTF

SAA to receive R2 billion lifeline

The airline's creditors will also provide an additional R2 billion as it begins the journey to restructuring its business and financial affairs from Thursday.

ewn.co.za

There have been warnings this could have staggering implications as the practitioner will have comprehensive and unfettered power to do whatever it takes to rescue the airline.

I am sure the unions will NOT like that news...

 

[maumau]

WTF

SAA to receive R2 billion lifeline

The airline's creditors will also provide an additional R2 billion as it begins the journey to restructuring its business and financial affairs from Thursday.

ewn.co.za

Also wondered about that

 

[Priapus]

I am sure the unions will NOT like that news...

Would they approve of the business rescue? Another mother of all strikes incoming, maybe?

 

[Jopie Fourie]

Would they approve of the business rescue? Another mother of all strikes incoming, maybe?

They will have nothing to strike for. Most of them will soon be unemployed with nowhere to go in any event. There will be no other solution when it comes to business rescue. The SAA is beyond saving. They waited too long.

 

[RonSwanson]

Can't wait for them to do it with Eskom.

 

[Jopie Fourie]

Can't wait for them to do it with Eskom.

Let's slay 'em one at a time

 

[FlashSA]

If SAA goes under does that mean no more free flights for govt members ?

They already get given vouchers and can fly on any airline

 

[koffiejunkie]

If SAA goes under does that mean no more free flights for govt members ?

One way or another, it's tax payers who foot the bill. So no, nothing changes for them.

 

[ToxicBunny]

I am sure the unions will NOT like that news...

Of course not... But the consultation phase is over... They have no say any more... And if their actions after this point necessitate the liquidation of the business then it will happen.

 

[maumau]

Can't wait for them to do it with Eskom.

We can only hope. This would be the right time, while SA is schmoozing to avoid a downgrade.