SAA rescue on track as it gets remainder of R10.5 billion bailout – but no plans to start flying yet

[BusinessTech]

SAA rescue on track as it gets remainder of R10.5 billion bailout – but no plans to start flying yet

The Department of Public Enterprises says that South African Airways could exit administration at the end of March on the back of fresh funding and a possible equity partner.

 

[My_King]

Ag lekker man

 

[LCBXX]

Because socialism is better!

 

[BBSA]

Because socialism is better!

They would never make these decisions if it was their own money.

 

[backstreetboy]

 

[pinball wizard]

Look at all those vaccines being flushed down the toilet.

 

[Hemi300c]

And back into the red in April

 

[TelkomUseless]

On the contrary, funding of SAA should be understood in line with preserving strategic and catalytic state instruments for transformation, growth, development, service delivery and employment creation.”

So... reading that... It's actually costing jobs, service delivery and employment issues all over SA ... but yet SA gets saved.

So killing whole country to save a few. But the piggies want ZAR...

 

[ToxicBunny]

So still this nebulous "possible" equity partner.

Until such a thing is actively named and the volume of that equity in SAA is stated this is all pie in the sky bollocks.

 

[freematrix]

Honestly fuc_em. We can't afford an effing Covid Vaccine but we can bail out a few jobs at SAA for an airline that has never and will never succeed.
Watch your country burn and throw your water into a desert.

 

[rvZA]

“As government, we considered obligations of the state especially if the airline were to be liquidated.

Yes, because, if you do liquidate the SAA, all debtors and borrowers will make all debt payable in 30 days. Then, you have a nasty cross-default clause in your agreements... if any debtor or borrower also borrowed to any other SOE, including Eskom, they can also make those debt payable in 30 days.

You idiots issued more guarantees than you can afford. Unfortunately, you do not have the money to pay the debts.

So, you will save SAA and continue to bail it out on taxpayer money forever, and this is evident from this paragraph:

In a response to parliamentary questions in November, Deputy president David Mabuza justified government’s decision to save SAA and extend billions more to the struggling national airline.

So, the South African taxpayer is f***ed for all eternity.

 

[rvZA]

So still this nebulous "possible" equity partner.

Until such a thing is actively named and the volume of that equity in SAA is stated this is all pie in the sky bollocks.

There is no 'equity partner'. He is actually refering to the taxpayer.

 

[Binary_Bark]

More money wasted so the ANC criminal syndicate can continue, money laundering and looting

 

[Datura]

Can I short SAA?

 

[neoprema]

 

[The_MAC]

First order of business: Pay Bonuses, Award Tenders and then possibly at the end sort out the Debt and if there is anything left, fly a few planes around..

 

[Tabac]

"He said that the benefits of ensuring that SAA is kept afloat and contributes to the country’s economy, far outweighs those of collapsing the national carrier, he said."

What benefits you communist pig ? My pension fund means fokol because you turn every fcking thing into schit.

 

[Herr der Verboten]

SAA rescue on track as it gets remainder of R10.5 billion bailout – but no plans to start flying yet

The Department of Public Enterprises says that South African Airways could exit administration at the end of March on the back of fresh funding and a possible equity partner.

Good. Send then a book!
-DAnc

 

[ConfusedR]

First order of business: Pay Bonuses, Award Tenders and then possibly at the end sort out the Debt and if there is anything left, fly a few planes around..

If there is nothing left after paying bonuses, awarding tenders, stealing and looting, they will just demand another bailout.

 

[Tabac]

Where's all the suicide bombers looking for a job ?