SAA in Business rescue

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
Whirly
10000 and still climbing
10000 and still climbing
Posts: 12839
Joined: Tue Nov 11, 2003 3:25 pm
Closest Airfield: Ermelo
Location: Mpumalanga
Has liked: 107 times
Been liked: 646 times

Re: SAA in Business rescue

Unread post by Whirly » Thu Oct 29, 2020 9:43 am

I think "Unions" and the power they wield. :? Maybe? Votes?

Whirly.
Not every home needs a dog but every dog needs a home.
User avatar
cage
10000 and still climbing
10000 and still climbing
Posts: 10353
Joined: Mon Dec 23, 2013 9:47 am
Closest Airfield: FAGC
Location: ..for the grass 35
Has liked: 20 times
Been liked: 417 times

Re: SAA in Business rescue

Unread post by cage » Thu Oct 29, 2020 9:50 am

Its just saving face at the expense of the country.
Folding it up would be an admission of failure and they just can’t have that.

Trying to get this off the ground in the covid economy is stupid.
It just provides a taxpayer funded competitor to make doing business harder for legitimate airlines that have fought the hard way to survive.

Most of the money isn’t going to go anywhere meaningful, they have a large amount of debt and staff to dispose of.
Some nice payouts for some.
These users liked the author cage for the post (total 3):
Ray WC120Mouser
User avatar
Deanw
Six Tousand
Six Tousand
Posts: 6985
Joined: Wed Jan 28, 2004 1:37 pm
Closest Airfield: FACT
Has liked: 30 times
Been liked: 293 times

Re: SAA in Business rescue

Unread post by Deanw » Thu Oct 29, 2020 9:51 am

Media Statement Ministry of Public Enterprises welcomes SAA funding to finalise Business Rescue Plan
You do not have the required permissions to view the files attached to this post.
How come every time my ship comes in I'm at the airport?

http://www.SAairforce.co.za
User avatar
Deanw
Six Tousand
Six Tousand
Posts: 6985
Joined: Wed Jan 28, 2004 1:37 pm
Closest Airfield: FACT
Has liked: 30 times
Been liked: 293 times

Re: SAA in Business rescue

Unread post by Deanw » Thu Oct 29, 2020 9:52 am

But the funds will only become available in January next year. So nothing happens until then?
How come every time my ship comes in I'm at the airport?

http://www.SAairforce.co.za
User avatar
cage
10000 and still climbing
10000 and still climbing
Posts: 10353
Joined: Mon Dec 23, 2013 9:47 am
Closest Airfield: FAGC
Location: ..for the grass 35
Has liked: 20 times
Been liked: 417 times

Re: SAA in Business rescue

Unread post by cage » Thu Oct 29, 2020 10:36 am

Deanw wrote:
Thu Oct 29, 2020 9:52 am
But the funds will only become available in January next year. So nothing happens until then?
Would that mean they can only enact the BRP then?
If so they will just keep accruing debt and salaries owed to staff.
Just means the funds are even less meaningful when it arrives.
Volo
1k poster
1k poster
Posts: 1847
Joined: Tue Apr 21, 2009 12:39 pm
Closest Airfield: FAOR
Location: Kempton Park
Has liked: 161 times
Been liked: 281 times

Re: SAA in Business rescue

Unread post by Volo » Thu Oct 29, 2020 12:34 pm

I think the government in establishing a new SOE might even be an unlawful act .
For starters they could be found to be in contravention of the Competition act in that they are going to compete with private airlines with a structure that does not have to make a return on the Capital they will require to operate .

They have proved before that they did not have to pay for their assets.

Also their staff compliment and overhead on day 1 will produce an astronomical loss for some time considering their customer base is unknown .

I also believe parliament might have to decide if what they are proposing is lawful.
User avatar
Snitch
10000 and still climbing
10000 and still climbing
Posts: 10583
Joined: Tue May 31, 2005 11:34 am
Closest Airfield: Unknown
Location: Milky Way Galaxy
Has liked: 37 times
Been liked: 112 times

Re: SAA in Business rescue

Unread post by Snitch » Thu Oct 29, 2020 2:07 pm

Deanw wrote:
Thu Oct 29, 2020 9:52 am
But the funds will only become available in January next year. So nothing happens until then?

Gordhan says they are applying for bridging finance (most likely from the banks) with the new guarantee and a new board will be announced soon
User avatar
Snitch
10000 and still climbing
10000 and still climbing
Posts: 10583
Joined: Tue May 31, 2005 11:34 am
Closest Airfield: Unknown
Location: Milky Way Galaxy
Has liked: 37 times
Been liked: 112 times

Re: SAA in Business rescue

Unread post by Snitch » Thu Oct 29, 2020 2:08 pm

Volo wrote:
Thu Oct 29, 2020 12:34 pm

For starters they could be found to be in contravention of the Competition act
Has never worried an SOE
dollar
Airspeed active
Posts: 190
Joined: Mon Nov 14, 2011 11:48 am
Has liked: 143 times
Been liked: 30 times

Re: SAA in Business rescue

Unread post by dollar » Thu Oct 29, 2020 3:48 pm

A simple poll of who is going to queue to buy SAA II tickets would be interesting.

Personally I wouldn’t touch them for the coming years - too risky. You really have no idea how fast they are going to eat through the bailout cash? And I get stuck in NY and have to buy another ticket with cash I don’t really have 😂
African Flyer
Frequent AvComer
Posts: 873
Joined: Wed Apr 19, 2017 12:55 pm
Closest Airfield: FAGC
Has liked: 15 times
Been liked: 18 times

Re: SAA in Business rescue

Unread post by African Flyer » Thu Oct 29, 2020 8:23 pm

SAA gets R10.5 billion, other companies get zero [-( .
Imagine what Airlink, Safair and CemAir could do if they were given R10.5 Billion split 3 ways.
Positive rate! :D
Wingnut
Straight and Level
Posts: 247
Joined: Fri Nov 14, 2003 6:53 am
Location: Cape Town
Has liked: 44 times
Been liked: 9 times

Re: SAA in Business rescue

Unread post by Wingnut » Fri Oct 30, 2020 7:47 am

Snitch wrote:
Thu Oct 29, 2020 2:08 pm
Volo wrote:
Thu Oct 29, 2020 12:34 pm

For starters they could be found to be in contravention of the Competition act
Has never worried an SOE
Not quite correct. In recent times, maybe.

I know of an instance from the time before they were called SOE's where industry went to the minister and the SOE had to withdraw from tendering on the work.

It was for construction work north of our borders.
User avatar
kosmonooit
Engine Still Cranking
Posts: 48
Joined: Tue Aug 24, 2010 8:25 pm
Closest Airfield: Rand
Location: Jouburg
Has liked: 3 times
Been liked: 2 times

Re: SAA in Business rescue

Unread post by kosmonooit » Fri Oct 30, 2020 3:32 pm

Whirly wrote:
Thu Oct 29, 2020 9:43 am
I think "Unions" and the power they wield. :? Maybe? Votes?

Whirly.
Unions want a fresh management team, notably peeved that whilst the workers were put out of work, 'manangement' have stayed on under uninterrupted full pay during this whole shabang and it is them that by and large have been responsible for this situation. This is what Unions have said.

However there has been no mention of failed national and party policies that have indeed created this problem, looking at the bigger picture. Until we do that, its all futile in my opinion.
African Flyer
Frequent AvComer
Posts: 873
Joined: Wed Apr 19, 2017 12:55 pm
Closest Airfield: FAGC
Has liked: 15 times
Been liked: 18 times

Re: SAA in Business rescue

Unread post by African Flyer » Sat Oct 31, 2020 2:31 pm

Positive rate! :D
User avatar
GL
Niner Tousand
Niner Tousand
Posts: 9712
Joined: Fri Sep 23, 2005 10:08 am
Closest Airfield: FACT
Location: Lost for words
Has liked: 112 times
Been liked: 316 times

Re: SAA in Business rescue

Unread post by GL » Sat Oct 31, 2020 5:18 pm

My 2c worth - hopefully cuts through some of the noise and misconceptions flowing around.

These users liked the author GL for the post (total 7):
sweptwingIO520CBVoloEDPRay WPebleheadrichard C
What if humanity is the disease and Covid-19 the cure?
User avatar
Induna
1k poster
1k poster
Posts: 1678
Joined: Tue Mar 20, 2012 10:01 am
Closest Airfield: FASD
Location: Port Owen - Western Cape
Has liked: 128 times
Been liked: 147 times

Re: SAA in Business rescue

Unread post by Induna » Sun Nov 01, 2020 6:56 pm

a bit of humor... I found this on FB.. :)

(PS: pls remove if not appropriate)
You do not have the required permissions to view the files attached to this post.
These users liked the author Induna for the post (total 4):
sLNKyVolosweptwingDan the Man
Jacques van der Westhuizen
ZS-WSW | Sonerai 2L
ZU-RHT | Magni Gyro M18 Spartan

Return to “Airline Chatter”