SAA to start job cuts?

Discussions pertaining to Airline operations,safety and training for Flight Deck Crew. Open to anyone who would like to learn all aspects of the Airline industry from a pilots perspective.

Moderator: Moderators

User avatar
ARM505
Cows on Runway - doing go around
Posts: 413
Joined: Mon May 12, 2008 10:33 pm
Has liked: 10 times
Been liked: 54 times

Re: SAA to start job cuts?

Unread post by ARM505 » Thu Dec 05, 2019 5:42 am

I cannot see how SAA can survive business rescue. My knowledge of the financial side is insufficient however. I would appreciate a best guess from people with more knowledge of how it works and the specifics applied to SAA. I've read the other thread, perhaps I should have asked there. Based on what I've read though, I cannot see a way through it. To me, this appears to be a last ditch attempt at a controlled crash.
User avatar
nomie
Reaching GFA
Posts: 265
Joined: Mon Jun 02, 2014 7:41 am
Closest Airfield: Lanseria
Location: Centurion
Has liked: 10 times
Been liked: 14 times

Re: SAA to start job cuts?

Unread post by nomie » Thu Dec 05, 2019 7:17 am

https://www.businessinsider.co.za/bruce ... aa-2019-12
Recent history shows the decision to enter business rescue is typically left too late, and companies fail anyway.
fly1981
Man found at unmanned airfield-What now?
Posts: 391
Joined: Wed Sep 26, 2007 5:54 pm
Closest Airfield: All over
Has liked: 1 time
Been liked: 6 times

Re: SAA to start job cuts?

Unread post by fly1981 » Thu Dec 05, 2019 7:37 am

I was under the impression one of the conditions of entering into business rescue is the company is not allowed to accrue more debt, ie they have to operate on a cash, pay and receive basis for all services they require( catering, fuel etc etc ) . I may be completely wrong, but if this is the case, can’t see how they will last longer than a week without a serious cash injection, really horrible time of the year for this to be happening, for the employees, the traveling public that have bought tickets in advance and everyone else concerned.
User avatar
Deanw
Seven Thousand
Seven Thousand
Posts: 7119
Joined: Wed Jan 28, 2004 1:37 pm
Closest Airfield: FACT
Has liked: 32 times
Been liked: 323 times

Re: SAA to start job cuts?

Unread post by Deanw » Thu Dec 05, 2019 7:48 am

As an existing thread is already running related to the business rescue of SAA, please continue to post on the other thread so as to avoid duplication.

Existing thread: Solidarity launches application to put SAA into Business rescue
How come every time my ship comes in I'm at the airport?

http://www.SAairforce.co.za

Return to “Airline Chatter”