SAA can shut down within a year

[Declan Thompson]

SAA can shut down within a year

South African Airways could be declared insolvent within the next 12 months if it does not turn around its current liquidity situation.

 

[Jet-Fighter7700]

translation:

give us moar money we spent it all on Booze and Bentleys, and 100 consultants eating KFC
should have long ago been declared insolvent and gone the way of all SOE's like SAPO, dead, buried, or privatized

 

[dontcryforme]

Again?

 

[ToxicBunny]

SAA can shut down within a year

South African Airways could be declared insolvent within the next 12 months if it does not turn around its current liquidity situation.

SAA can shut down now, they won't fix their liquidity situation so stop wasting the money.

 

[Bewlen]

As if the cadres will allow it

It's good for at least another 3 billion-rand bailouts. Remember, they didn't join the struggle to be poor!

 

[xcaliber]

Did they say they made a profit recently?

Anyway, how about focusing on flights that generate ****ing money. Where is the flight to London, or anywhere in EU.

Why are all flights to **** hole african countries where you dont make money.

 

[Sideshow Bob]

Did they say they made a profit recently?

Yes, Out of billions of bailout money, their accountants found a way to divert some of it to a profit column after cadre disbursement.

 

[DarkStarMonday]

SAA must speak to Aunty "Denel" in this matter, maybe they can help each other?

 

[Ockie]

Why are all flights to **** hole african countries where you dont make money.

And a lot of African countries dont release the funds from ticket sales for foreign carriers.

 

[konfab]

As if the cadres will allow it

It's good for at least another 3 billion-rand bailouts. Remember, they didn't join the struggle to be poor!

It won't receive a bailout IMO. I think it will follow a Soviet style "privatisation".

What I think will happen is that the state will let it go bankrupt, but limit who can buy up its assets using BEE. Only qualified 100% black owners may bid on it.

It will then be auctioned off for R1 to something like Bhukumpimpi Consortium or insert some other fake company that has links to ANC bigwigs.

They then asset strip everything of value and move on.

 

[Heisenborg]

It won't receive a bailout IMO. I think it will follow a Soviet style "privatisation".

What I think will happen is that the state will let it go bankrupt, but limit who can buy up its assets using BEE. Only qualified 100% black owners may bid on it.

It will then be auctioned off for R1 to something like Bhukumpimpi Consortium or insert some other fake company that has links to ANC bigwigs.

They then asset strip everything of value and move on.

Nope. Current business model for looting works just fine

 

[dualmeister]

Are we a failed State yet?

 

[Scooby_Doo]

How much debt is guaranteed by the ANC government?

 

[ToxicBunny]

How much debt is guaranteed by the ANC government?

Technically they're debt free atm...but need bailouts to stay afloat really.

 

[HumanShield]

years of bailouts, business rescue, and cost-cutting, and they're pretty much back where they started. The absolute efficiency of state-run institutions is astonishing.

 

[Bad Ballie]

Are we a failed State yet?

Of course we are, not that anyone will actually admits it though.

 

[Sargeant]

Just do it already!

 

[borro]

 

[Binary_Bark]

Another cANCer success story, AMANDLA!

 

[Jet-Fighter7700]

Another cANCer success story, AMANDLA!

not yet comrade, first we rename everything to erase the legacy of apartheid,
everything must have an unpronounceable name, then we loot and destroy everything in the place, and finally when all that is left is bare earth and tumbleweeds, we beg from the rest of the world to give us money so we can hide it elsewhere or spend it on lavish cars and mansions while our people starve,
and if anybody complains or points out our flaws, call them imperialist racists.

sound about right? or did I miss a step?