SA Airways (SAA) has secured R3.5bn in funding from the Development Bank of Southern Africa. “Discussions held with financial institutions have been fruitful,” joint SAA business rescue practitioners Les Matuson and Siviwe Dongwana said in a statement on Tuesday. The Read More …
SAA crisis becomes ANC nightmare – No banking institution wants to borrow R2 billion for bankrupt government-controlled entity
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 …
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 …
Government of Zimbabwe owes SAA R880 million
SA Airways is likely to lose a lot of money due to Zimbabwe’s default and disputes. According to the latest information, Zimbabwe are only willing to pay 5% of the R880m SAA claims the Zimbabwe government owes. The amount is Read More …
Pravin Gordhan says cash-strapped SAA may have no money for salaries this month
Minister of Public Enterprises Pravin Gordhan has warned that, while two unions at SAA are demanding salary increases for members, the airline might not even be able to pay any salaries at the end of the month. The minister was 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 …
Air travellers in SA – Bring your own food, union says, as strike threatens airport catering services
Air travellers in South Africa have been warned to pack lunch boxes as there will be no food or catering services on several airlines as workers are expected to embark on a strike on Monday. This as the National Union 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 …
#ParasiticParastatal – SA Express is just another bottomless pit swallowing taxpayers’ money
It is disturbing to realise that recently another enormous lifeline was quietly given to SA Express while all the attention was on Eskom, the SAA and the SABC. According to the Free Market Foundation, SA Express received a lifeline of R1,24 billion from the government in November last year and was now given government guaranteed financing amounting to R300 million.
It seems that the Free Market Foundation forced SA Express by means of the Promotion of Access to Information Act to disclose its financial statements and managerial account data.
SA Express has become a large hole draining tax money from the fiscus dam and if it continues in this way, it will drain everything until there is nothing left. The ANC will have to realise at some point that the country does not have an inexhaustible source of money and that public enterprises cannot be saved from financial ruin indefinitely.
Like with e-toll, taxpayers will get to a point where they will n
Appointment of white CEO at Mango kicks up a storm – Black management Forum objects since he is white and because of skin colour not qualified for the position
The appointment of Nico Bezuidenhout as Chief Executive Officer of Mango triggered hysteria at the Black Management Forum (BMF). The BMF will do everything in its power to fight the appointment. Their objection is that he is a white man Read More …