SA Airways is likely to lose a lot of money due to Zimbabwe’s default and disputes. According to the latest information, Zimbabwe are only willing to pay 5% of the R880m SAA claims the Zimbabwe government owes. The amount is apparently due for ticket sales, but the Zimbabwe Reserve Bank’s Monetary Committee refuses and rejects..
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Government of Zimbabwe owes SAA R880 million
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Passengers stranded after numerous SA Airlines flights canceled due to irregularities with recent audit report
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Many flights from the SA Airways and its subsidiaries such as Comair have canceled flights because an audit report showed that aircraft were forbidden to take off. The SA Aerospace Technical Division released the audit, which shows that there are “irregularities” that emerged with the audit. Exactly what irregularities at SAL Technically led to the..
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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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SAA to get R10bn bailout from sale of government stake in Telkom
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Cash-strapped SA Airways is to get a R10-billion bailout through the sale of the government’s multibillion-rand stake in Telkom, parliament was told on Wednesday. DA MP Alf Lees dropped the bombshell in the National Assembly during question time with Deputy President Cyril Ramaphosa when he presented a cabinet memorandum leaked to him as a member..
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