South African Airways majority stake sold off to private consortium

rvZA

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This is a real crop of crap! I have read a number of articles on the subject and it appears that the consortium is not paying a blue cent for their 51% share. All the articles say is; "The grouping named Takatso will invest as much as 3.5 billion rand ($257 million) over the next three years".

In other words, they may invest their own money into their own company, but there is never any mention of actually paying the current owners for the 51%.

Also, some articles are saying that guvimint will still pay for some costs (unspecified) during the purchase period.

So much for feeding their own faces...

Their 'investment' will be based on income 'generated' by the airline the next 3 years. Someone needs to get hold of that actual agreement, because, I am 100% convinced, if that company does not put that money into the SAA, it will be done by government.
 

diesel

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51% bought up by a private firm funded by an investment firm, would love to know who the directors are , no doubt we got some connected people sitting on the board.
 

deesef

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Their 'investment' will be based on income 'generated' by the airline the next 3 years. Someone needs to get hold of that actual agreement, because, I am 100% convinced, if that company does not put that money into the SAA, it will be done by government.

Correction: Future funding will unfortunately be done by you and I...
 

rvZA

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Correction: Future funding will unfortunately be done by you and I...

Correct. The government does not generate any income. All its ventures are loss-making enterprises. The only money they have access to is our taxes and that is what they will use, irrelevant of what the news say or even government says.
 

hj007

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is Gov still launching its own new airline though? Hopefully that remains just talk like our new state bank, and other new Govi entities..
 

mjzar

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Do ministers still get free flights? Or will they now be using other airlines similar to sending their kids to private schools and using private hospitals?
I suspect government will continue to subsidize this by ensuring ministers (and their family) use the 'national airline'.
Everyone needs to just abandon it
 

Corelli

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EWC is anc wants abandoned land.
Eff wants all land. They need to vote together.

Ramaphosa doesnt want people to have access to his land and the zulu kingdom wont give up kzn. So it may get there for vote and fail miserably. But Ramaphosa can then say...well he tried and thats it. Thats all that he needs done.

This deal with SAA is a good deal. They already run Lanseria. Durbanville is another airport like Lanseria thats being developed in CT. In matter of fact the bussiest route in Africa is CT to JHb and return.

Well done to getting it privatised.

So we have Eskom and Denel left.
 

Corelli

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I suspect government will continue to subsidize this by ensuring ministers (and their family) use the 'national airline'.
Everyone needs to just abandon it
Government is planning to remove this clause. They are busy assessing all the benefits and there will be serious cuts.
 

Martin_P

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Better late than never, but this should have been done years ago before all the washedd bail out money. Can someone tell me how much bail out they have received in total over the years.
 

donal

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'Plan' is just lacking the minor detail of where and how they will get qualified, current and legally rated pilots to fly the aircraft...

But hey, you can bulls*&t some of the people all the time...
 

Priapus

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Their 'investment' will be based on income 'generated' by the airline the next 3 years. Someone needs to get hold of that actual agreement, because, I am 100% convinced, if that company does not put that money into the SAA, it will be done by government.

Typical. You're "100% convinced" by an agreement you have zero knowledge of and have yet seen. Says it all really.
 

TheChamp

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'Plan' is just lacking the minor detail of where and how they will get qualified, current and legally rated pilots to fly the aircraft...

But hey, you can bulls*&t some of the people all the time...
I doubt this is their first time ever foray into business, leave the HR stuff for them to worry about.
 

ForceFate

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'Plan' is just lacking the minor detail of where and how they will get qualified, current and legally rated pilots to fly the aircraft...

But hey, you can bulls*&t some of the people all the time...
But why won't they get qualified pilots?
 

Rocco1

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Instead of lapping up what others , that agree with your view say, rather be honest and say..I don't have the cognitive capacity to actually think critically for myself and so default to believing whatever someone says that agrees with me... the so called Pan-African fund has a well established track record... SAA would sit well in their transport portfolio...

Great you can google the about sheet of the company profile. You win the MyBB investigative journalism of the year award.

You havent actually disbuted anything about whether the funding for Harith is coming from RSA PIC investments into the Harith for potentially the expressed purposes of proping up a SOE with private "SA pensioners" capital.

Obviously this is specualtion, but there is no logical risk free reason a private company would buy 51% of SAA in this climate withouth massive risk reduction or guarettees by Gov - which could easily come into funding by PIC being directed into Harith for this purposes.

Have to find new ways of looting the GEPF... this seems just the right venture going foward with a veneer of credibility.
 

Rocco1

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But why won't they get qualified pilots?
Well cant speak for Gobal operations, and there will be pilots without jobs floating around, but SAA and the pilots association afaik have yet to come to any agreement, where most qualified ex-SAA pilots are members therof.
 
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