SAA business rescue plan in deep trouble

The_Librarian

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It is possible that some of the 617 SAA pilots are ghost pilots.
"Hello, this is Casper the Friendly Ghost flying the plane. We are now en-route to Cape Town, and will be arriving in three hours. Please sit back, fasten your seat belts, relax, and ignore the ghostly gobblies trying to snack on your toes and fingers".
 

The_Librarian

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How much does a commercial airplane actually fly?
Pre-COVID - as much as possible to create revenue. The more it is in the sky, the more people can be ferried, and the better the income.

Usually aeroplane crews rotate on a shift basis, one crew will fly the same plane in the morning, another crew will fly same plane in the midday, and another crew will fly it at nightfall.

Post-COVID - a bit difficult to say and do...
 

Segg

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Here's the schedule from a KLM City Hopper crew (short-haul, and quite an old schedule) but you get the idea what it should look like

klm.JPG
 

Bewlen

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Pension money.
Yup. It is becoming blatantly obvious that pensions will be raided. Once those coffers are empty, they will ramp up the printing press. Once that train has run its course, IMF on their knees.

In this specific order.
 

Segg

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Don't forget NHI, Eskom, SABC, Land Bank etc etc etc etc....

Oh and that wealth tax they've been hinting at, I'm glad SAA is receiving that R20b, but hey, that trip you wanted to take with your family, that new TV you wanted, that special family dinner you had planned - that's gone straight to the cronies and fixing up Governments stuff ups, and there's nothing you can do about it
 

Gaz{M}

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But you can't just say "pensions."

Do you mean, the GEPF and PIC will allocate R10bn equity loan to SAA?

They can't raid private pensions, until they change regulations.

The money must be guaranteed by tomorrow 15 July.
 

NarrowBandFtw

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The money must be guaranteed by tomorrow 15 July.
Creditors agree to supply it if guaranteed by government, that'll easily happen by tomorrow, it's not like they do a credit check on government, they merely trusts that it can get its grubby paws on more citizen money through legislation and force.

What happens when it fails and creditors come asking for the government guaranteed payment is where it gets murky. They probably winked at each other a lot and rolled the dice on government being able to rape pensions before the country goes tits-up so fast that the amounts involved have no value anymore.
 

Oldfut

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My view is that it is no less corrupt than Zuma and the Guptas, St Jaamnadas just another corrupt and incompetent commie spending other peoples' money. A suitably fat one at that.
 
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