Billions and billions have been thrown at The South African Airways (SAA), but the airline don’t have much to show for it. It’s hard to recall a time when the limpest of all our state-owned entities was successful on its own two feet. It has a history of relying on fiscal interventions, needing contributions from..
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How much taxpayers money has been thrown into SAA’s black hole to stay afloat?
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Economic recession awaits SA due to poor performance of the rand and begging mentality of state entities
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South Africa’s economy is plunging into an abyss, and the recession looms on the doorstep of SA’s door. This is the opinion of an expert in Pretoria following the extremely poor performance of the rand and the begging mentality of state-controlled companies. The latest plea from the SA Airways, asking the ANC-regime for a R4..
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Can you believe this, the SAA requests R4bn government bailout, their ‘wings’ needs to be clipped NOW
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JOHANNESBURG – South African Airways (SAA) appointed its head of operations as acting chief executive on Friday and said it needs R4-billion from the government to survive the current financial year and allow it to renegotiate loan terms with banks. Zukisa Ramasia becomes interim CEO after Vuyani Jarana unexpectedly resigned on Sunday, after less than..
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SA taxpayers to fund yet another government bailout – Cash-strapped SAA requests R4bn to survive current financial year after years of mismanagement and corruption
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South African Airways (SAA) appointed its head of operations as acting chief executive on Friday and said it needs R4-billion from the government to survive the current financial year and allow it to renegotiate loan terms with banks. Zukisa Ramasia becomes interim CEO after Vuyani Jarana unexpectedly resigned on Sunday, after less than two years..
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Trade unions are threatening to stop all flights from SAA if their demands are not met
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The unions Numsa and the SA Cabin Crew Association demand that the Chief Executive Officer (CEO) of SAA, Vuyani Jarana, be reinstated immediately in his post. This comes after Jarana announced that he had resigned. The two unions say they will stop all flights from SAA if this requirement is not met. According to them,..
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EFF’s Mbuyiseni Ndlozi talks about the ‘Fake’ pilot saga which is a prime example of white privilege, well Ndlozi can you pilot a plane?
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Mbuyiseni Ndlozi of the EFF is not surprised by the scandal surrendering an SAA pilot who flew for 20 years with an allegedly fake license. The Economic Freedom Fighter claims that this is not the first time ‘white privilege’ worked in the favour of an unqualified ‘professional’. Taking to social media, Mbuyiseni Ndlozi weighed in..
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The Police bust SAA pilot who was fired for flying with fake licence for 20 years
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A senior SAA pilot, who had been asked to resign earlier this year after it was found that he had flown commercial airplanes for more than 20 years with a fake licence, has been taken into custody, police have said. Police spokesperson Brigadier Vish Naidoo said William Chandler appeared in Kempton Park Magistrate’s Court on..
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SAA pay Comair R1,1 billion, where does the bankrupt state entity get the money from?
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SAA conceded that it had violated the Competition Act and announced that it would pay R1,1 billion to Comair. The dispute has been in existence for a period of 10 years after SAA’s travel agents operated bonus schemes. The bonus systems were against the rules of the Competition Council, and Comair has set a claim..
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Struggling airline under ANC control is apparently under extremely difficult financial circumstances and will now be rescued by commercial banks – This is the result of corruption and incompetence, celebrated in the ANC ranks
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South African commercial banks are basically prepared to help the instable SA Airways with R3.5bn as a lifeline. The struggling airline needs the funds very urgently to meet his short-term obligations. SAA’s Chief Executive Officer, Vuyani Jarana, says the amount is needed to maintain its operational duties until April. Jarana, says it is clear that..
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Suspended NPA boss hired to clean up SAA’s mess – SAA, who has been bankrupt after years of mismanagement and corruption now wants to make a turnaround – Is it to late?
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SAA, bankrupted after years of mismanagement and corruption, has named former prosecutions boss Vusi Pikoli as its chief risk and compliance officer as part of an effort to clean up governance at the airline. Pikoli is currently an adviser to the state security minister and was suspended as NPA boss by Thabo Mbeki in 2007…
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Desperate times calls for desperate measures, but is this the right thing to do? After all financial losses occurred due to incompetence, negligence and corruption – SAA is borrowing R3.5bn from local banks
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South African Airways (SAA) received a R3.5bn loan to keep it going until the end of March. This forms part of the R21,7 billion SA management believes is needs to make its turnaround strategy succeed. SAA spokesperson Tlali Tlali confirmed the R3,5bn was received from local banks. This comes after National Treasury gave R5bn to..
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Boycott South African Airways – Here’s why!
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Boycott SAA because it wastes R5 billion annually. That could fund 120 000 university students, 50 000 RDP houses, 10 (300-bed) hospitals, 300 schools, or 30 000 police. It is your patriotic duty to do so. If you are unpatriotic, it is your ethical duty. If you are unethical, it is your familial duty. If..
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SAA airline finds itself in a perpetual debt trap that it just can’t escape from without government bailouts – all this because of incompetent ANC politicians, mismanagement and corruption
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There’s a lot to take in with this story below of what could potentially become a massive crisis for the South African fiscus and taxpayer. In a telltale sign, suppliers to SAA are slashing their payment periods from 21 days to 7 days amid fears of a total collapse in the airline’s finances. This alone..
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BREAKING NEWS:- SAA has already eaten through more than half of its R5 billion bailout
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South African Airways seems to be a bottomless pit. South African Airways (SAA) has already spent more than half of its recently approved R5 billion government bailout.
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So here we go again:- SAA will receive ‘final’ bailout of R5 billion, says Department of Public Enterprises
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According to the Department of Public Enterprises, this R5 billion bailout will be the final financial hand-out afforded to the ailing national carrier.
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