SAA asks for another extension to submit financial statements

[Ockie]

FINANCE Minister Pravin Gordhan has requested Parliament to give national carrier South African Airways (SAA) until March to table its annual financial statements in Parliament; the statements were originally due by September 30 last year.

The company has been unable to finalise its statements as it requires a further government guarantee of about R5bn to achieve a going-concern status. The Treasury is still considering this request.

http://www.bdlive.co.za/business/tr...ther-extension-to-submit-financial-statements

 

[grok]

SAA doesn't have a financial problem as much as it has a chairwoman problem..

 

[The_Librarian]

How about no?

 

[RudderVator]

[video=youtube;zUQgthIs7pM]https://www.youtube.com/watch?v=zUQgthIs7pM[/video]

 

[Neoprod]

Erm, what nonsense is this? Give us 5 billion rand so our books don't look **** or we can't show you our books?

Wonderful.

 

[Ockie]

Erm, what nonsense is this? Give us 5 billion rand so our books don't look **** or we can't show you our books?

Wonderful.

Does it not have something to do with if they show their books as it is now, they will admit that SAA is no longer a viable going concern and must be liquidated under the companies act or something?

 

[Neoprod]

Does it not have something to do with if they show their books as it is now, they will admit that SAA is no longer a viable going concern and must be liquidated under the companies act or something?

Sure...but that's not a good reason. If the prudent decision is to shut down the national carrier, so be it.

 

[Ockie]

Sure...but that's not a good reason. If the prudent decision is to shut down the national carrier, so be it.

Of course it is not....but I think government have made it very clear that under no circumstances will they allow SAA to fail....even if it means draining the tax payer and stealing from the poor. Imagine the amount of houses that could have been built with money that SAA wasted and sucked up. urg.

 

[Neoprod]

Of course it is not....but I think government have made it very clear that under no circumstances will they allow SAA to fail....even if it means draining the tax payer and stealing from the poor. Imagine the amount of houses that could have been built with money that SAA wasted and sucked up. urg.

oh, same page now. I was on the side of reasonable and responsible decision making - you were looking at what our government does

 

[patrick123]

Erm, what nonsense is this? Give us 5 billion rand so our books don't look **** or we can't show you our books?

Wonderful.

About the price of a presidential jet at the current exchange rate.

 

[Draganchor]

I was quite surprised that the media I subscribe to states the SA is the most open sky's in Africa?

FFS Privatize this Winny Necklace, the public don't want it.

Okkie?



http://www.economist.com/blogs/gulliver/2015/12/yamoussoukro-indecision

http://www.economist.com/news/leade...open-skies-would-make-it-cheaper-let-africans

The lesson from other parts of the world is that when markets are freed, fares fall. This stimulates a huge increase in air travel and gives a boost to all the businesses that depend on mobility. In African countries that have liberalised a bit, this has indeed happened: after a bilateral open-skies deal, fares between South Africa and Zambia fell by almost 40% and passenger numbers rose nearly as much. After Morocco opened its market to European airlines in 2005, the number of passengers jumped by 160% and the number of routes more than tripled, from 83 to 309 in eight years.

 

[Ockie]

Okkie?

Yes?

 

[Mila]

Should an auditor not be able to see this kind of bs? You are bankrupt and it is not viable to carry whether you extend or get donations to float you for another 6 months ( kind of senario? )

 

[Draganchor]

Yes?

Thought your input would be respecable on this v my blabbering

 

[Neoprod]

Should an auditor not be able to see this kind of bs? You are bankrupt and it is not viable to carry whether you extend or get donations to float you for another 6 months ( kind of senario? )

SOE's (and municipalities) laugh in the face of audits.

 

[Mila]

SOE's (and municipalities) laugh in the face of audits.

Meh.

 

[HavocXphere]

Should an auditor not be able to see this kind of bs? You are bankrupt and it is not viable to carry whether you extend or get donations to float you for another 6 months ( kind of senario? )

Its the auditor general's responsibility. And yeah sure they can see it coming...but its a little like a doctor berating an overweight person that smokes...the doc can't exactly exercise for them. And this particular patient just keeps eating more & more McD...