The competition to get SAA free will now begin, which the weakest state-controlled entity now has literally no value. The government’s inability to live up to its promise and make another R2 billion available to SAA as the largest rescue 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 …