SAA director resigns

[Bradley Prior]

SAA director resigns

Martin Kingston resigned as a director of South African Airways on Friday as the state-owned airline’s administrator scrambles for cash to keep it going.

“There is no need for me to be on the board given the appointment of the Business Rescue Practioners,” Kingston, the executive chairman of Rothschild & Co.’s South African unit, said in a text message. “I will continue to offer input to the extent required.” [Bloomberg]

 

[MirageF1]

SAA director resigns

Martin Kingston resigned as a director of South African Airways on Friday as the state-owned airline’s administrator scrambles for cash to keep it going.

“There is no need for me to be on the board ...

Love it.
As bad as politicians, worse possibly , as they should know better.

 

[Thor]

Good Riddance

 

[dabbler]

Business Rescue Practioners

???

 

[TheChamp]

???

Yes?

 

[Former member 61586]

Am I reading this right?

"Can't fckup on the board anymore because of the business rescue people, so pissing off and leaving the ship I helped sink"

 

[Looney]

Am I reading this right?

"Can't fckup on the board anymore because of the business rescue people, so pissing off and leaving the ship I helped sink"

Sounds about right.

 

[Thor]

Am I reading this right?

"Can't fckup on the board anymore because of the business rescue people, so pissing off and leaving the ship I helped sink"

Pretty much

 

[chris54]

Yes?

What is a practioner?

 

[ScottulusMaximus]

K thnks bai

 

[Messugga]

What is a practioner?

They're practicing business rescue - they're still in training.

 

[TheChamp]

They're practicing business rescue - they're still in training.

That why they got SAA, we'll give them Eskom after we have seen what they can do.

 

[access]

What is a practioner?

someone pretending to be a practitioner.

plausible deniability when the looting continues

 

[Utterly Confused]

Pouring money into a bottomless pit

 

[Happy Days]

It seems that SA Express is about to go into business rescue mode as well: https://www.dailymaverick.co.za/article/2020-01-17-sa-express-is-facing-business-rescue-application/

 

[MidnightWizard]

It is this bit that intrigues me the most ...

executive chairman of Rothschild & Co.’s South African unit,

Was the person holding down TWO jobs ?

 

[Sinbad]

It is this bit that intrigues me the most ...

executive chairman of Rothschild & Co.’s South African unit,

Was the person holding down TWO jobs ?

Directors often do.

 

[MirageF1]

Doing eff all, ye

 

[MidnightWizard]

Directors often do.

You do of course know WHO is waiting in the wings to snap up ALL the South African "family-silver"
Now being sold at fire-sale prices due to the malfeasance of the current government AND ruling party

When they talk "privatization" -- there are only a few "buyers" ALREADY lined up
The same ones that ALREADY own / control most of what is left of the -- private / commercial segment of the SA economy.
Ask yourself WHO stands to benefit from the FORCED sale of ASSETS ...

 

[ToxicBunny]

You do of course know WHO is waiting in the wings to snap up ALL the South African "family-silver"
Now being sold at fire-sale prices due to the malfeasance of the current government AND ruling party

When they talk "privatization" -- there are only a few "buyers" ALREADY lined up
The same ones that ALREADY own / control most of what is left of the -- private / commercial segment of the SA economy.
Ask yourself WHO stands to benefit from the FORCED sale of ASSETS ...

The people who may buy them and run them properly....

That bit should be obvious.