SAA to receive additional funding from government

[Jamie McKane]

SAA to receive additional funding from government

South African Airways will receive additional state funding after Chief Executive Officer Vuyani Jarana resigned over what he said was a lack of government support for the loss-making carrier.

Finance Minister Tito Mboweni included the country’s flagship airline on a list of companies that will get support from the country’s contingency reserve account.

[Bloomberg]

 

[eg2505]

junk status junk status here we come.

 

[BBSA]

They not getting it from Government, they get it from the tax payers.

 

[Trilkop]

This will only be for a very short period of time. The economy is busy collapsing. Companies are scaling down and closing down at an unprecedented rate never seen before, anywhere else in the world. Retrenchments are at the highest numbers anywhere in the world. The West has cut of South Africa and is no longer investing here nor are they giving the government any loans, as seen in the Denel salary debacle. The end result will be less taxes coming in and government will get to a point where there will be no more money to bail out these institutions or to pay any further grants.

 

[konfab]

Do them and South Africa a favour and kill it.

SAA provides a service that only the rich can afford. It isn't profitable, thus the poor in this country get 0 benefit from it.

This is the new Dawn under the Messiah. The only reason why SAA is being kept alive with stolen money is because the Messiah and his ANC are at the feeding trough.

 

[ambroseg1]

@Splinter - care to comment? Your saviour Gordhan doesnt seem to be improving a thing at this state owned enterprise.

 

[Trilkop]

@Splinter - care to comment? Your saviour Gordhan doesnt seem to be improving a thing at this state owned enterprise.

Not a single SOE can be saved. No person in this world would ever be in a position to save any one of them. Under a normal functioning government, these institutions would have been privatized 27 years ago when the government already saw the danger signs. But, corruption and greed is so born into these politicians, they kept it and bled it dry. In fact, they are still doing it today.

 

[ambroseg1]

Not a single SOE can be saved. No person in this world would ever be in a position to save any one of them. Under a normal functioning government, these institutions would have been privatized 27 years ago when the government already saw the danger signs. But, corruption and greed is so born into these politicians, they kept it and bled it dry. In fact, they are still doing it today.

Does this mean Gordhan is a good guy?

 

[The_MAC]

They should take that money, and throw one motherless street-party, that way at least everyone will have a good time..

 

[Trilkop]

Does this mean Gordhan is a good guy?

Is Gordhan a Good Guy? Is Gordhan a good guy to his family? Probably yes, Is Gordhan a good guy to his friends? Probably yes. Is Gordhan a good guy to his fellow workers or the poor man begging at the robot? I would say, probably yes. I do not know Gordhan that well, but am willing to give him the benefit of the doubt, for now.

Is Gordhan the Good Guy who will save the South African economy and SOE's? No, he is not. He will not be in a position to save either. Not him or any other person in the ANC or in South Africa. Unfortunately, the ANC is just such a communist party that its own nature prevents it from saving these institutions or the economy. In addition to this, there is not sufficient experience, knowledge, skills or education in the ANC or for that matter in SA that is capable of running the country. This is a fact and has been proven over and over the past 27 years.

 

[ambroseg1]

Is Gordhan a Good Guy? Is Gordhan a good guy to his family? Probably yes, Is Gordhan a good guy to his friends? Probably yes. Is Gordhan a good guy to his fellow workers or the poor man begging at the robot? I would say, probably yes. I do not know Gordhan that well, but am willing to give him the benefit of the doubt, for now.

Is Gordhan the Good Guy who will save the South African economy and SOE's? No, he is not. He will not be in a position to save either. Not him or any other person in the ANC or in South Africa. Unfortunately, the ANC is just such a communist party that its own nature prevents it from saving these institutions or the economy. In addition to this, there is not sufficient experience, knowledge, skills or education in the ANC or for that matter in SA that is capable of running the country. This is a fact and has been proven over and over the past 27 years.

Obviously I was reffering to the second good guy scenario. I am sure he isnt a wife beating jackass in his personal life that gives to the poor at the robots and probably has a pet.

 

[Trilkop]

Obviously I was reffering to the second good guy scenario. I am sure he isnt a wife beating jackass in his personal life that gives to the poor at the robots and probably has a pet.

Well, you have my answer then.

 

[beans100]

Gambling addiction? Someone should get them to speak to an Responsible Gamble Consultant. This is getting out of hand.

 

[Splinter]

@Splinter - care to comment? Your saviour Gordhan doesnt seem to be improving a thing at this state owned enterprise.

What do you expect him to do - clone himself? He is trying to deal with the Eskom issue, as well as other SOE's, and you expect him to wave his magic wand and solve everything while he farts bubbles in his bath?

And lets not forget him being wrapped up in legal battles with the PP etc. I don't think you have any idea how time consuming that alone would be.

 

[Daruk]

“I must emphasize that this additional government support cannot be a blank check to these state-owned enterprises,” Mboweni said on Thursday. “We really and truly cannot go on like this.”

Who's going to stop them? Certainly not you lol.

 

[Utterly Confused]

Flogging a dead horse comes to mind.

 

[dunkyd]

We are being misled left right and centre.......Zondo just makes us fell warm and fuzzy but nothing will happen. Stealing is going on full time.

 

[RedViking]

From Tax Payers. Not goverment stupid.

 

[RedViking]

What do you expect him to do - clone himself? He is trying to deal with the Eskom issue, as well as other SOE's, and you expect him to wave his magic wand and solve everything while he farts bubbles in his bath?

And lets not forget him being wrapped up in legal battles with the PP etc. I don't think you have any idea how time consuming that alone would be.

Yes. Magic is the only way it can be fixed.

 

[Pythonista]

“We really and truly cannot go on like this.”
Um - apparently you are ...