The bankrupt, state-owned SAA airline company will manage to pay its staff salaries for January, but that’s where it all ends. With a bankrupt government failing to fulfill its pledge to pump another R2bn into the soe, it looks as Read More …
Cash-strapped SAA cancels 38 domestic and international flights
SAA has confirmed its cancellation of 38 domestic and international flights between OR Tambo International Airport and Cape Town, as well as between Johannesburg and Durban’s King Shaka airports. In a statement, the airline said: “These decisions are in line Read More …
SAA director resigns from his post amid crisis at state entity
SAA director Martin Kingston resigned from his post, and the move was welcomed by the communist-minded Numsa union as well as the trade union Sacca. The two unions also said the rest of SAA directors should follow Kingston’s example and Read More …
SA Airline shocks the country after flight incident – faulty, secondhand component of Mango Boeing turns passengers’ flight into nightmare
An investigation into a flight incident which occurred on a Mango Boeing 737 aircraft has unearthed the extent of South African Airways’ problems, according to a report in the Sunday Times. Passengers on a recent Mango flight from Johannesburg to Read More …
SAA pilots willing to strike to ‘save’ national airline – will be a first in its 80-year existence
SAA pilots said on Thursday they were willing to go on strike, if necessary, unless “critical operational and technical deficiencies” were addressed. The Pilots Association has begun the process of recruiting among its members to determine how they think about Read More …
SA National Treasury gives SA Express a R300 million bailout
The National Treasury has just announced that it has committed R300m to drag the bankrupt SA Express airline of its financial difficulties.
How much taxpayers money has been thrown into SAA’s black hole to stay afloat?
Billions and billions have been thrown at The South African Airways (SAA), but the airline don’t have much to show for it. It’s hard to recall a time when the limpest of all our state-owned entities was successful on its Read More …
Struggling airline under ANC control is apparently under extremely difficult financial circumstances and will now be rescued by commercial banks – This is the result of corruption and incompetence, celebrated in the ANC ranks
South African commercial banks are basically prepared to help the instable SA Airways with R3.5bn as a lifeline. The struggling airline needs the funds very urgently to meet his short-term obligations. SAA’s Chief Executive Officer, Vuyani Jarana, says the amount Read More …
Desperate times calls for desperate measures, but is this the right thing to do? After all financial losses occurred due to incompetence, negligence and corruption – SAA is borrowing R3.5bn from local banks
South African Airways (SAA) received a R3.5bn loan to keep it going until the end of March. This forms part of the R21,7 billion SA management believes is needs to make its turnaround strategy succeed. SAA spokesperson Tlali Tlali confirmed Read More …
SAA airline finds itself in a perpetual debt trap that it just can’t escape from without government bailouts – all this because of incompetent ANC politicians, mismanagement and corruption
There’s a lot to take in with this story below of what could potentially become a massive crisis for the South African fiscus and taxpayer. In a telltale sign, suppliers to SAA are slashing their payment periods from 21 days Read More …