SAA desperately needs its government bailout

Gordon_R

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Even then it's risky as our government can't service its debt and will start defaulting.
Governments never default on loans made in local currency. They just print more money, and let inflation do its work. We aren't there yet...
 

Swa

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I see flysaa.com is out of action.
Says web page blocked.
Interesting.
Probably didn't pay the bills.

Governments never default on loans made in local currency. They just print more money, and let inflation do its work. We aren't there yet...
Why they want to nationalise the reserve bank. We aren't there yet though...
 

eye_suc

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I reckon SAA got their money, once again.

That means struggling SOEs like South African Airways would be in line for cash injections of up to R5 billion. Over R16 billion would be adjusted and go to a number of other SOEs.
Could somebody perhaps explain what a "money bill" is? It sounds like they are creating money out of thin air, but that isn't how this works. Something must devalue, correct?
 

The_Librarian

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Other money bills assented to and signed by Ramaphosa included the Division of Revenue Bill and the Taxation Laws Amendment Bill.
What's these two specifically for? They sound ominous...
 

Gordon_R

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I reckon SAA got their money, once again.



Could somebody perhaps explain what a "money bill" is? It sounds like they are creating money out of thin air, but that isn't how this works. Something must devalue, correct?
A money bill is any legislation to do with taxation or government spending. It goes through different parliamentary processes than other legislation (hard to think of examples that don't have monetary implications!)
 

Scooby_Doo

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I got bumped from an SAA flight for tomorrow night to a mango flight. Might be related.
 

braailekker11

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Your tax into fat cats pockets. You sacrificed for literally nothing. You worked for literally nothing. Thanks ANC
 

Swa

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Yeah don't for a moment believe the tax will favour us. Probably some new tax for the fat cats to enrich themselves.
 

Hephaestus

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UPDATE: 19 SAA domestic and international flights cancelled
Travellers are being advised that as many as 19 SAA flights have been removed from the Airline Global Distribution Systems, as Treasury struggles to raise the necessary funds to keep SAA afloat.

Traveller24 has received confirmation via Flight Centre about the flight cancellations.

More details to follow.


This follows a tweet by the Online Travel Agent, advising their customers that "a number of South African Airline's (SAA) domestic and international flights have been cancelled".

SAA has not yet confirmed any flight cancellations, with the last communication to the public being operations are "continuing as normal" on Monday, 20 January.

The airline has confirmed it will be issuing a statement shortly.
 

The_Librarian

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Gonna sucks if you're an SAA pilot and you're stuck overseas with your crew...
 
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