SAA set to fly out of the red

O

Ockie

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SA Airways is projecting a R177-million profit before interest and tax for the 2017-2018 financial year, which would be a dramatic R720-million improvement on the R543-million loss expected for 2016-2017.

The main driver of the expected gain is aircraft leasing costs, which are forecast to remain relatively stable at R4-billion in each year, while revenue is expected to rise 13% compared to the 12.6% increase in operating costs.........................
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http://www.timeslive.co.za/thetimes/2016/03/15/SAA-set-to-fly-out-of-the-red
 
so now, did they have a bunch of aircraft "standing around"(leased) with around 1000 staff associated with it getting paid every month?
 
Flying out of the red is one thing... #paybackthemoney [for all the handouts] is the bit I am interested in.
 
So - took a look at SAA financials

Biggest issue - they have not costed their fuel consumption adequately
Second biggest - they have a debt problem - they owe a heap of cash
Third - their staff costs are their second biggest cost - in other words - some folks are being over paid, without bringing value to the airline

Finally this ..... and the first line is nebulous to say the least.

Irregular spend without loss R28,4m
Fruitless and wasteful expenditure R19,2m
Losses due to criminal conduct R5,8m
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I have no idea how they work around this - considering they still have a lease on aircraft to pay
 
Losses due to criminal conduct = R5,8+ BILLION
SAA CAN make money with the A/C and staff it currently has... Management on the other hand...
Fortunately, I hear there's a change in leadership coming soon. Nope, not a rumour, heard it from #26 in SAA.
 
Idiosyncratic said:
Losses due to criminal conduct = R5,8+ BILLION
SAA CAN make money with the A/C and staff it currently has... Management on the other hand...
Fortunately, I hear there's a change in [-] leadership [/-] banking details coming soon. Nope, not a rumour, heard it from #26 in SAA.
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FTFY
 
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