This is the new SAA CEO’s plan to save the airline

[The Light Green Hornet]

Yeah when they start to use buzzcliches they don't have a clue

Yup. They wanted to shut the airline down remember? But the politicians forced them to dream up a turnaround strategy. Now he is introduced as 'interim' with a new 'plan'? Maybe that is a nervous laugh, or maybe he doesn't know what's coming.

 

[Ginad28]

Probably both

 

[Jet-Fighter7700]

maybe he should take this hobby up:
might help with all the vibrations, could maybe locate some unspent money to waste.

Dowsing - Wikipedia

en.wikipedia.org

 

[MaisonP]

**** SAA.

 

[Gtx Gaming]

Only thing I care about for SAA is the direct flight to NY, I want my packages quicker lol!

 

[Ginad28]

Would rather take a slow boat than fly this useless airline

 

[surface]

Well done to practitioners to make SAA solvent by accepting a mere10 billion rands from treasury and firing gazillion employees. Next business rescue plan should kick in by 2022.

"Thus, the practitioners are leaving both a solvent and liquid SAA adequately set to continue into the future

SAA exits business rescue | Business

The business rescue practitioners of SAA have filed a notice of substantial implementation with the Companies and Intellectual Property Commission.

www.news24.com

 

[Gordon_R]

Well done to practitioners to make SAA solvent by accepting a mere10 billion rands from treasury and firing gazillion employees. Next business rescue plan should kick in by 2022.

SAA exits business rescue | Business

The business rescue practitioners of SAA have filed a notice of substantial implementation with the Companies and Intellectual Property Commission.

www.news24.com

All sounds very hocus pocus for an airline that is not flying, has no published financial accounts, and subsidiaries that are insolvent.

Edit: It's worse than you think possible:

Business Maverick: SAA’s 17-month-long business rescue process ends, with the troubled airline now ‘solvent and liquid’

SAA, which last turned a profit in 2011, is expected to have a negative cash-flow position of R59.7bn over the next five years. Negotiations are being concluded to bring in a strategic equity partner to inject funds and expertise into the airline.

www.dailymaverick.co.za

 

[Geoff.D]

His first task will be to write his three exit letters.

 

[Kodi]

Well done to practitioners to make SAA solvent by accepting a mere10 billion rands from treasury and firing gazillion employees. Next business rescue plan should kick in by 2022.

SAA exits business rescue | Business

The business rescue practitioners of SAA have filed a notice of substantial implementation with the Companies and Intellectual Property Commission.

www.news24.com

For once I agree with your sarcasm.

 

[Swa]

Well done to practitioners to make SAA solvent by accepting a mere10 billion rands from treasury and firing gazillion employees. Next business rescue plan should kick in by 2022.

SAA exits business rescue | Business

The business rescue practitioners of SAA have filed a notice of substantial implementation with the Companies and Intellectual Property Commission.

www.news24.com

Will just need another 10 gazillian bailout and then another and another before then.

 

[Ginad28]

His first task will be to write his three exit letters.

I totally agree

 

[Ginad28]

Will just need another 10 gazillian bailout and then another and another before then.

And another ad infinitum. And will continue to bleed taxpayers

 

[Ginad28]

For once I agree with your sarcasm.

As do I. And the brps are laughing all the way to the bank

 

[neoprema]

So is this a full privatization of SAA now? Or still some hybrid parastatal thing? I hope not cause what SAA needed was to be merged with a successful airline privately and keep govt's fingers out of it.

 

[Ginad28]

So is this a full privatization of SAA now? Or still some hybrid parastatal thing? I hope not cause what SAA needed was to be merged with a successful airline privately and keep govt's fingers out of it.

Indeed, but never going to happen. Pravin Gordhan will lose out

 

[Ginad28]

Yup. They wanted to shut the airline down remember? But the politicians forced them to dream up a turnaround strategy. Now he is introduced as 'interim' with a new 'plan'? Maybe that is a nervous laugh, or maybe he doesn't know what's coming.

He probably doesn’t

 

[Mike Hoxbig]

Another CEO, another plan. In the end it will come down to bailouts. There's no saving this POS as long as government and the unions are calling the shots...

 

[Ginad28]

As long as they have their snouts in the trough everything in this country will end up with a begging bowl at the IMF or World Bank.The only responsible Minister is Tito Mboweni