South African Airways business rescue will fail – OUTA

[rvZA]

Whoever provides them with credit should be fired. SAA need about another R15-25 billion. Unreal that they are hellbent on keeping it afloat.

Not really unreal. The money is needed and the taxpayer needs to pay it. No 'ifs' or 'buts' and this will need to continue indefinitely. Closing down or collapsing the SAA will lead to an immediate collapse of the economy and subsequently, the government too.

 

[Swa]

Whoever provides them with credit should be fired. SAA need about another R15-25 billion. Unreal that they are hellbent on keeping it afloat.

... for now. Don't forget they were forced into business rescue. Otherwise the ANC would have just continued to pour on more bailouts without any plan whatsoever.

 

[The_Librarian]

Not really unreal. The money is needed and the taxpayer needs to pay it. No 'ifs' or 'buts' and this will need to continue indefinitely. Closing down or collapsing the SAA will lead to an immediate collapse of the economy and subsequently, the government too.

Baaaah. Eskom is the real backbone. If Eskom goes, we're in deep brown doodoo.

 

[rvZA]

Baaaah. Eskom is the real backbone. If Eskom goes, we're in deep brown doodoo.

True, but if SAA goes, lenders can call up all debt owed to be paid within 30 days. And, thanks to the cross-default clause, if a lender borrowed any money to Eskom, Transnet, Danel or any other SOE, they can also immediately call up those debt too to be paid in 30 days. SAA may well be the sticky point that could cause just that.

 

[wingnut771]

True, but if SAA goes, lenders can call up all debt owed to be paid within 30 days. And, thanks to the cross-default clause, if a lender borrowed any money to Eskom, Transnet, Danel or any other SOE, they can also immediately call up those debt too to be paid in 30 days. SAA may well be the sticky point that could cause just that.

House of cards.

 

[rvZA]

House of cards.

And it is all about to come down, rather sooner than later.

 

[Fuzzbox]

Salaries paid till next BAILOUT

 

[The_Librarian]

Damned if you do, damned if you don't.

Viva ANC, Viva!
Viva the Emperor, Viva!

 

[Ginad28]

Shut it down !!!

ANC vanity project .

For heaven’s sake shut the bloody airline down once and for all.

 

[Jola]

For heaven’s sake shut the bloody airline down once and for all.

The ANC just refuses to admit that they totally destroyed SAA !!!

 

[Swa]

The ANC just refuses to admit that they totally destroyed SA !!!

fixed