SAA profit questions

[Jan]

Big questions about SAA's profit

While South African Airways (SAA) recently surprised the country with its first reported profit in over a decade, the airline's entire current financial state is unknown, and it remains to be seen whether its turnaround will be sustainable.

During its annual generating meeting on 20 November 2024, the SAA interim board reported the airline's earnings before interest, tax, depreciation, and amortisation (Ebitda) had swung from a R1 billion loss in FY2022 to a positive Ebitda of R277 million in FY2023.

 

[Willie Trombone]

8 cents to the rand.
Sis ANC

 

[Gordon_R]

"Lastly, the profit that SAA has reported makes up just 0.5% of the R48 billion in taxpayer bailouts it received in the past profit-less decade."

 

[Gtx Gaming]

time to order lekker new planes with all those bucks!

grab some 777x pre-orders and some a350-900s for good measure!

 

[Quicks]

What ANC does best cook the books. Probably ANC cadre auiditors that can't tell the difference between a creditor and debtor.

 

[bluepoole]

What ANC does best cook the books. Probably ANC cadre auiditors that can't tell the difference between a creditor and debitor.

In their defence, it is hard since something like a debitor doesn’t exist

 

[Quicks]

In their defence, it is hard since something like a debitor doesn’t exist

Debtor. [ But "fixed" it for you regardless ]

A debitor, or debtor, is a person or entity that owes money to another party

 

[UB40]

Didn't SAA sell there debt for R50 to someone?

 

[oros]

welcome to South Africa!! Where all the fun happens.......

 

[Bill Clitnon]

I think that, every time you see the word EBITDA, you should substitute the words "bullshit earnings".

~ Charlie Munger

 

[RedViking]

People are gullible

 

[Fuzzbox]

Are they even FLYING ?

 

[bluepoole]

Are they even FLYING ?

Not sure if meant sarcastic or not…but if not, yes, for quite a while now, domestic and international…where have you been all this time?

 

[dillinger]

Was speak to a friend that is in the airline industry and he said that SAA can never again ask the government for a bailout. They started a new company and as of that the agreement between government and SAA is no longer the same. Another friend used to fly for them, they approached him and offered him a job, he can't be a captain, only black captains, gets the same salary as when they closed down and he has to take up a training bond. He laughed at them and now does private ferry flights on A320 from the USA to SA.

 

[Ivan Leon]

 

[GrootVoet]

Big questions about SAA's profit

While South African Airways (SAA) recently surprised the country with its first reported profit in over a decade, the airline's entire current financial state is unknown, and it remains to be seen whether its turnaround will be sustainable.

During its annual generating meeting on 20 November 2024, the SAA interim board reported the airline's earnings before interest, tax, depreciation, and amortisation (Ebitda) had swung from a R1 billion loss in FY2022 to a positive Ebitda of R277 million in FY2023.

Some creative accounting happening here I suspect, lets see how it looks after (if) they release their financial reports.

 

[Fuzzbox]

Not sure if meant sarcastic or not…but if not, yes, for quite a while now, domestic and international…where have you been all this time?

Flying with other airlines.

 

[Fuzzbox]

Some creative accounting happening here I suspect, lets see how it looks after (if) they release their financial reports.

DUDU and PRAVIN can interfere no MORE.