SAA in Business rescue

[HJK 414]

If I recall correctly ........

The BRP's stated that they were ending the process by the end of March ??
That would have implied 2021 ??

Any news on when the "management" of the newly "saved" airline is taking over ??
I would like to hear the initial statements of the Management and the business vision going forward.

Am I correct in expecting a short financial state of affairs / analysis during the handover ??
That should make interesting reading - and the financial expectations going forward should be fascinating ...

JK

[evanb]

The BRP's stated that they were ending the process by the end of March ??
That would have implied 2021 ??

They planned to apply for the ending of the process around the end of March (technically this involves filing a notice of "substantial implementation" to CIPC). It isn't a fait accompli that it will be concluded at that time. It would depend on all conditions being met (mostly by external parties) and the documentation being processed and approved by CIPC, and assuming no objections from affected parties.

[HJK 414]

The BRP's stated that they were ending the process by the end of March ??
That would have implied 2021 ??

They planned to apply for the ending of the process around the end of March (technically this involves filing a notice of "substantial implementation" to CIPC). It isn't a fait accompli that it will be concluded at that time. It would depend on all conditions being met (mostly by external parties) and the documentation being processed and approved by CIPC, and assuming no objections from affected parties.

Thx Evan ,

Should you not be in a park somewhere with the kids .?? .....( 26 C over there ! ... enjoy ... )

Interesting last sentence - "assuming no objections from affected parties."
Is the SAAPA an affected party ?? - Could they hamper the conclusion (substantial implementation).....??

JK

[ZX357]

https://www.thesouthafrican.com/travel/ ... s-website/

Interesting, is the new SAA about to be part of the Lufthansa group?

[Deanw]

https://www.thesouthafrican.com/travel/ ... s-website/

Interesting, is the new SAA about to be part of the Lufthansa group?

I would not take anything written on that website too seriously.

[Flaps Up1]

https://www.thesouthafrican.com/travel/ ... s-website/

Interesting, is the new SAA about to be part of the Lufthansa group?

The remnants of SAA is still a Star Alliance member, god knows know so that’s were the Lufthansa agreements come from. I wouldn’t take anything written on the FlySAA website too seriously either.

[Ugly Duckling]

The BRP's stated that they were ending the process by the end of March ??
That would have implied 2021 ??

They planned to apply for the ending of the process around the end of March (technically this involves filing a notice of "substantial implementation" to CIPC). It isn't a fait accompli that it will be concluded at that time. It would depend on all conditions being met (mostly by external parties) and the documentation being processed and approved by CIPC, and assuming no objections from affected parties.

The AHRLAC BRP wrangling has not been finalized as yet, it was initiated in April 2019. There are a few creditor queries outstanding.
This is a "small operation" in comparison to SAA, so to claim that it is close to conclusion is likely wishful thinking.

[Jfairwell]

I read a piece by Hein Kaiser, in which Guy is quoted, that the shortlisted candidates for the SAA CEO position are -

- Wrenelle Stander (ex Comair)

- Carla de Silva (ex Air Mauritius, resigned with effect 30 April

- Nonny Mashike (DPE)

- Mark Barnes (ex Post Office, Purple Capital, Standard Bank)

Can anyone confirm?

[southside]

I read a piece by Hein Kaiser, in which Guy is quoted, that the shortlisted candidates for the SAA CEO position are -

- Wrenelle Stander (ex Comair)

- Carla de Silva (ex Air Mauritius, resigned with effect 30 April

- Nonny Mashike (DPE)

- Mark Barnes (ex Post Office, Purple Capital, Standard Bank)

Can anyone confirm?

That would be very interesting if it is the case. I just don’t see it falling in with the BEE narrative.

I was very surprised when I learnt that the Eskom CEO was pale skinned.

[117]

The eskom CEO is mates with Tito. They ran their previous company into the deck together when they both worked there.

We can't expect a new boss of SAA to be appointed on merit now can we?

[Bearcat]

I read a piece by Hein Kaiser, in which Guy is quoted, that the shortlisted candidates for the SAA CEO position are -

- Wrenelle Stander (ex Comair)

- Carla de Silva (ex Air Mauritius, resigned with effect 30 April

- Nonny Mashike (DPE)

- Mark Barnes (ex Post Office, Purple Capital, Standard Bank)

Can anyone confirm?

That would be very interesting if it is the case. I just don’t see it falling in with the BEE narrative.

I was very surprised when I learnt that the Eskom CEO was pale skinned.

Unless you were out of work and desperate ... would you really want this job

[HJK 414]

........
Unless you were out of work and desperate ... would you really want this job

+ 1 Bruce,

This would require a CEO that is comfortable with begging his political masters for money - and constantly presenting new "plans and schemes" to get more funds appropriated or approved........

Without a decent "franchise parent" - this venture is doomed to fail.
Not a chance .....
So anyone accepting the job without such a "parent" or "partner" in my view only has one objective, and that objective will have very little to do with getting the airline profitable .....

JK

[Bearcat]

........
Unless you were out of work and desperate ... would you really want this job

+ 1 Bruce,

This would require a CEO that is comfortable with begging his political masters for money - and constantly presenting new "plans and schemes" to get more funds appropriated or approved........

Without a decent "franchise parent" - this venture is doomed to fail.
Not a chance .....
So anyone accepting the job without such a "parent" or "partner" in my view only has one objective, and that objective will have very little to do with getting the airline profitable .....

JK

The bravest CEO on the planet though must be De Ruyter who took over Eskom ... I really do admire him for taking on this challenge !!

[GL]

I read a piece by Hein Kaiser, in which Guy is quoted, that the shortlisted candidates for the SAA CEO position are -

- Wrenelle Stander (ex Comair)

- Carla de Silva (ex Air Mauritius, resigned with effect 30 April

- Nonny Mashike (DPE)

- Mark Barnes (ex Post Office, Purple Capital, Standard Bank)

Can anyone confirm?

Odd piece. Hein Keiser (former Mango PRO) phoned me for comment on a list of those four names. Luckily he did not print everything I said. I said Wrenelle was probably the most likely/best of the bunch. She has however now told me she would not accept the job even if it were to be offered.

[GL]

This is just nasty...