SAA desperately needs its government bailout

NarrowBandFtw

Honorary Master
Joined
Feb 1, 2008
Messages
18,071
Who's hoping that the state won't be able to find the R2bill required to bail them out again?
I'm conflicted, I have an expensive upcoming flight plan that sadly relies on SAA staying alive another 2 months at least.

Having said that, if it all goes to hell before then I'll hopefully be able to adjust plans accordingly. Once I've had my final SAA flight I'll be ready to pick up the pitch fork and lynch the mothertrucker again!
 

R13...

Honorary Master
Joined
Aug 4, 2008
Messages
32,009
Another bad idea. Sell government assets to prop up SAA:
Yeah terrible idea. I feel for the workers who stand to lose their livelihoods but government must try think about the greater good for once instead of just prolonging the pain for everyone and the country.
 

oRiX

Well-Known Member
Joined
Jan 22, 2010
Messages
199
Yeah terrible idea. I feel for the workers who stand to lose their livelihoods but government must try think about the greater good for once instead of just prolonging the pain for everyone and the country.
Like a desperate business owner selling their house to fund their never profitable company knowing that this year will be different.
Or the ANC have seen a way to continue to loot.
 

The_Librarian

Another MyBB
Super Moderator
Joined
Nov 20, 2015
Messages
26,550
Another bad idea. Sell government assets to prop up SAA:
From that article :

Mboweni said this week that loss-making state-owned companies are one of the biggest threats to the economy. He has regularly questioned why the government keeps clinging onto them, and has said SAA should be shut down.
Then DO it!
 

The_Librarian

Another MyBB
Super Moderator
Joined
Nov 20, 2015
Messages
26,550
Doubt if they will raise the money on such short notice by selling off ASSets. Should've done it long ago.

Edited to add : had the govt done their due diligence and ensured that all SoE's run profitably then none of this would have happened.

But nope, a blind eye was turned to corruption and inefficiency.
 
Last edited:

The_Librarian

Another MyBB
Super Moderator
Joined
Nov 20, 2015
Messages
26,550
Also due to economic constraints very little people who can actually buy the things Govt want to sell.

So yeah, going to be interesting. Tick tock.
 

BBSA

Honorary Master
Joined
Jul 11, 2005
Messages
14,185
Doubt if they will raise the money on such short notice by selling off ASSets. Should've done it long ago.
Apparently Treasury is seeking to convince banks to supply the airline with more loans that would be guaranteed with proceeds from asset sales.
 

The_Librarian

Another MyBB
Super Moderator
Joined
Nov 20, 2015
Messages
26,550
Apparently Treasury is seeking to convince banks to supply the airline with more loans that would be guaranteed with proceeds from asset sales.
If I were a banker, I would be like nopenopenopenope not gonna happen
 

Sinbad

Honorary Master
Joined
Jun 5, 2006
Messages
70,424
And the threat of ewc will be driving property prices down.

Foot, meet bullet.
 

MidnightWizard

Executive Member
Joined
Nov 14, 2007
Messages
5,723
WHEN you get to the point of having to sell the "family-silver" you just KNOW things are not going to end well --

IN THE POOR HOUSE !!!!!!!!
 

Swa

Honorary Master
Joined
May 4, 2012
Messages
24,209
This is madness. We should all petition the banks to not extend this any further. The correct thing to do would be close down SAA and use the assets to fund the economy.
 

zippy

Executive Member
Joined
May 31, 2005
Messages
9,899
This is madness. We should all petition the banks to not extend this any further. The correct thing to do would be close down SAA and use the assets to fund the economy.
Haha, you seriously think the banks have any interest in funding the economy. That ideal probably ended decades ago. It no longer applies in any economy. Banking is now all about milking customers out of fees for “investment advice”. The part about loans is window dressing to keep their licences. They now even have nice sounding term for it : Retail Banking
 

Genisys

Executive Member
Joined
Jan 12, 2016
Messages
9,974
Before everyone just keeps on calling for SAA to close down, keep in mind, SAAT plays a key role even if no one likes it. SAA closes down, SAAT closes down and we sit with every other major airline refusing to come here because sending planes here is pointless when no one can fix them if something goes wrong. This is kind of a double edged sword.
 

smi

Expert Member
Joined
Oct 4, 2012
Messages
1,999
Before everyone just keeps on calling for SAA to close down, keep in mind, SAAT plays a key role even if no one likes it. SAA closes down, SAAT closes down and we sit with every other major airline refusing to come here because sending planes here is pointless when no one can fix them if something goes wrong. This is kind of a double edged sword.
Haven't you heard there are some who call us a shitholy country
 

Swa

Honorary Master
Joined
May 4, 2012
Messages
24,209
Haha, you seriously think the banks have any interest in funding the economy. That ideal probably ended decades ago. It no longer applies in any economy. Banking is now all about milking customers out of fees for “investment advice”. The part about loans is window dressing to keep their licences. They now even have nice sounding term for it : Retail Banking
No but it is not in anybody's best interest to keep paying for this bottomless pit. I'm not asking they actually fund the economy.
 

Mystic Twilight

Expert Member
Joined
Dec 23, 2010
Messages
1,905
Before everyone just keeps on calling for SAA to close down, keep in mind, SAAT plays a key role even if no one likes it. SAA closes down, SAAT closes down and we sit with every other major airline refusing to come here because sending planes here is pointless when no one can fix them if something goes wrong. This is kind of a double edged sword.
I think air france has its own technical division here that can also do repairs for other aircraft. Some small carriers also have their repair all done in house like safair, so even if saat packs up there will be an opportunity to have other providers to expand and provide aircraft servicing.
 
Top