SAA in Business rescue

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HJK 414
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Re: SAA in Business rescue

Unread post by HJK 414 » Sun Apr 04, 2021 11:03 am

:!:

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
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Re: SAA in Business rescue

Unread post by evanb » Tue Apr 06, 2021 4:25 pm

HJK 414 wrote:
Sun Apr 04, 2021 11:03 am
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.
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HJK 414
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Re: SAA in Business rescue

Unread post by HJK 414 » Tue Apr 06, 2021 4:37 pm

evanb wrote:
Tue Apr 06, 2021 4:25 pm
HJK 414 wrote:
Sun Apr 04, 2021 11:03 am
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 ... :wink: )

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

JK
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Re: SAA in Business rescue

Unread post by ZX357 » Wed Apr 07, 2021 3:36 pm

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

Interesting, is the new SAA about to be part of the Lufthansa group?
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Re: SAA in Business rescue

Unread post by Deanw » Wed Apr 07, 2021 5:00 pm

ZX357 wrote:
Wed Apr 07, 2021 3:36 pm
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.
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Re: SAA in Business rescue

Unread post by Flaps Up1 » Wed Apr 07, 2021 5:09 pm

ZX357 wrote:
Wed Apr 07, 2021 3:36 pm
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.
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Re: SAA in Business rescue

Unread post by Ugly Duckling » Wed Apr 07, 2021 5:52 pm

evanb wrote:
Tue Apr 06, 2021 4:25 pm
HJK 414 wrote:
Sun Apr 04, 2021 11:03 am
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.
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Re: SAA in Business rescue

Unread post by Jfairwell » Wed Apr 07, 2021 5:59 pm

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?
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Re: SAA in Business rescue

Unread post by southside » Wed Apr 07, 2021 6:07 pm

Jfairwell wrote:
Wed Apr 07, 2021 5:59 pm
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.
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Re: SAA in Business rescue

Unread post by 117 » Wed Apr 07, 2021 7:08 pm

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?
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Re: SAA in Business rescue

Unread post by Bearcat » Wed Apr 07, 2021 7:09 pm

southside wrote:
Wed Apr 07, 2021 6:07 pm
Jfairwell wrote:
Wed Apr 07, 2021 5:59 pm
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 :roll:
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Re: SAA in Business rescue

Unread post by HJK 414 » Wed Apr 07, 2021 7:44 pm

Bearcat wrote:
Wed Apr 07, 2021 7:09 pm
........
Unless you were out of work and desperate ... would you really want this job :roll:

+ 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
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Re: SAA in Business rescue

Unread post by Bearcat » Wed Apr 07, 2021 7:49 pm

HJK 414 wrote:
Wed Apr 07, 2021 7:44 pm
Bearcat wrote:
Wed Apr 07, 2021 7:09 pm
........
Unless you were out of work and desperate ... would you really want this job :roll:

+ 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 :shock: ... I really do admire him for taking on this challenge !!
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Re: SAA in Business rescue

Unread post by GL » Thu Apr 08, 2021 6:53 am

Jfairwell wrote:
Wed Apr 07, 2021 5:59 pm
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.
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Re: SAA in Business rescue

Unread post by GL » Thu Apr 08, 2021 7:51 am

This is just nasty...
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