SAA to start job cuts?

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ARM505
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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.
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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.
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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.
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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

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