SAA is bankrupt

Does a SOE exist in this country that isn't in a state of total shambles??? This is what happens when you enforce a ridiculous and unworkable law such as BEE... and appoint CEO's who should be inmates.
I wanted to say SARS but am not so sure anymore after the latest news surrounding them surfaced.
SAPS? EDUCATION? ......
Ag just forget it. Let's wait for someone to hit a miss and by accident mention at least ONE ANC SOE success story.

There used to be a thread
....
about Positve South Africa or someting. Lets start a new one now that CR is at the helm. I am sure it will have better traction than before.
 
Please, just put them out of their missary.
You mean put us out of our misery. It is our tax money pouring into the SAA bucket with a hole in it. Dudu and Jacob are laughing all the way to the bank.
 
Help me out here. The "whites" "stole the land" and have all the wealth. The ANC/EFF/LFBF want it back. But they already have the whole of the state and huge monopolistic companies being the SOE's such as SAA, SABC, DENEL, Prasa, Eskom, SAA, etc. These were all powerful companies in the recent past and generated profits and jobs. Now they seem to be shells of their former selves draining money from the tax payer.

But "white monopoly capital" stole all the wealth? Seems to me the ANC destroyed all the wealth and jobs and are now a burden on the tax payer? Hence 15% VAT, etc. The politicians still sit on their multi million rand parliamentarian positions looking more arrogant than ever and presiding over the destruction of the SA economy and social fabric by fanning the racial fires to gain votes. Now that the ANC has destroyed the SOE's they want the "land back" that the "whites stole" from them?? This is set up to destroy the banks and much of the remaining wealth and then these greasy politicians want to control the reserve bank as well. That will be the final nail in the coffin.
 
Help me out here. The "whites" "stole the land" and have all the wealth. The ANC/EFF/LFBF want it back. But they already have the whole of the state and huge monopolistic companies being the SOE's such as SAA, SABC, DENEL, Prasa, Eskom, SAA, etc. These were all powerful companies in the recent past and generated profits and jobs. Now they seem to be shells of their former selves draining money from the tax payer.

But "white monopoly capital" stole all the wealth? Seems to me the ANC destroyed all the wealth and jobs and are now a burden on the tax payer? Hence 15% VAT, etc. The politicians still sit on their multi million rand parliamentarian positions looking more arrogant than ever and presiding over the destruction of the SA economy and social fabric by fanning the racial fires to gain votes. Now that the ANC has destroyed the SOE's they want the "land back" that the "whites stole" from them?? This is set up to destroy the banks and much of the remaining wealth and then these greasy politicians want to control the reserve bank as well. That will be the final nail in the coffin.

Sounds like a counter-revolutionary WMC agenda masterminded by "the boys" in Stellenbosch to destabilize the ANC and bring back apartheid..
 
Another day, another **** UP by the ANC, business as usual.
 
Why can't they privatize?

Against the law?
Not against law. Problem is you have to pay the private buyer R15 billion to takeover SAA. (Or write off the debt). Still a great deal for taxpayers. Should have listened to Maria Ramos many years ago. Over staffed by about 5,000 and that’s a problem the ANC cannot deal with. G.
 
How many times in the past year as SAA claimed bankruptcy?

Never. That is the problem. That is why they are late with their financial reports .... yet again. They cant release it now before another bail out is received, else they would no longer be a going concern and that would be the end of them.
 
It is possible to run a profitable airline in Africa: https://citizen.co.za/news/south-africa/2013922/saa-can-learn-a-lot-from-ethiopian-airlines/

Last month, Ethiopian Airlines announced results for the 2017-18 financial year with the net profit at $233 million (R3.3 billion).

The East African carrier went on to report a 43% rise in operating revenue amounting to $3.7 billion in 2017-18, proving it was Africa’s sole profitable airline.

South African Airways, on the other hand, has in the past decade endured about eight CEOs and more than six turnaround plans, with bailouts of about R46 billion.
 
The East African carrier went on to report a 43% rise in operating revenue amounting to $3.7 billion in 2017-18, proving it was Africa’s sole profitable airline.

Not correct. Comair (Kulula and BA) as well as FlySafair is profitable. I believe Airlink is also profitable.
 
Privatise SAA... simple solution
It is way too late for that. No airline or company would touch this airline with a 500KM long stick.

Only option I see is liquidate and let market forces determine the links in and out of our ports. If SAA is gone, we might see Comair or Safair start a new airline for international connectivity to America's, Europe and Asia.
 
Meanwhile the rest of East and West Africa are launching the Single African Air Transport Market. Reducing costs of flying and opening up trading channels. SAA will lose out, incl SA Inc, as Xenophobia, Nationalisation etc. take us back to the dark ages. Our trading partners in Comesa and Nigeria are already reticent to traveling to S.A.

https://www.theguardian.com/global-...p-airspace-sky-aviation-african-trade-tourism

We will be the laughing stock of Africa soon, I already get smirked at...
 
Still some optimists who believe that SAA can be 'saved': https://www.dailymaverick.co.za/article/2018-12-11-saving-saa-the-pilots-perspective/

Our national carrier can succeed if the SAA board and leadership are prepared to focus on these real problems. The brutal truth is that SAA needs to hire the best managers who must be held accountable. It must also take drastic action to increase revenue and address costs that are out of line with international benchmarks, no matter how politically difficult it may be.

We are under no illusion about the scale of the task that lies ahead and we remain supportive of the CEO’s efforts to turn SAA around. Emerging from this turbulent period will require all of us to pull together in the best interests of the airline and the people of this country.
 
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