“The business rescue practitioners and management have taken various actions to ensure that cash is conserved.”
The state carrier, which is in business rescue, is still waiting to see if the R2bn promised by the Treasury comes through24 January 2020 - 13:03 Picture: SAA Image: January salaries at SAA have been paid, despite the company’s tense waiting game for the R2bn of funding it needs to continue operating. Spokesperson for the business rescue practitioners Louise Brugman said on Friday: “The business rescue practitioners and management have taken various actions to ensure that cash is conserved. As a result we have sufficient funds to pay salaries.” SAA is on tenterhooks at it waits to hear whether the Treasury has raised the R2bn from the capital markets. Although, the Treasury pledged in December to provide the money from the fiscus, it later transpired that it did not have a legal mechanism to appropriate additional money for SAA, as it was not covered in the adjustment budget in October. The only other mechanism — an appropriation under section 16 of the Public Finance Management Act — was exhausted last year when an emergency R17bn was transferred to Eskom. The government is expected to make an announcement on the funding imminently. Read more: Business Day
Is this going to be a monthly headline?
SAA has enough cash to pay January wages, say business rescue specialists | IOL NewsSouth African Airways (SAA) has saved enough cash to pay January salaries, specialists appointed to try to turn around the struggling airline said. SAA, pay the maintenance people first! They got spares to sell to make up their salary 🙄 The Zuma inspired pillaging sure screwed this national asset .. and still no one is in jail .. Lol..Lies has short legs..what exactly did they do? 🤦🏾♀️🤦🏾♀️..they did absolutely Jerk🤣🤣...Then what is the role of Chief Restructuring Officer? Oops, how can I forget our taxes are paying for his hospital bills in UK..,so we are paying him while he is lying in hospital 🤦🏾♀️
SAA has enough cash to pay January salaries - rescue expertsSAA has saved enough cash to pay January salaries, specialists appointed to try to turn around the struggling airline said on Friday. So you worried about paying salaries instead of a functioning Airline😩 we must get our priorities correct 🤣
Government turns to international airlines as SAA woes continueThe government is in talks with major international airlines for more direct flights to the country to boost tourism. Whilst the destroy our own. This government will not last forever in power. They can allow Tito Mboweni to destroy everything whilst he still can, come 2029 the government of EFFSouthAfrica will reserve the 30 wasted years of the ANC Destroying SAA, at the other hand CyrilRamaphosa tells the nation something else. We have not forgotten that tito_mboweni dais publicly that SAA must be closed down.
Treasury is still seeking SAA fundsSars claims it has recovered R2.5 billion from criminal elements, Ramaphosa can ask them to give the money to SAA Shut it down ! Can't these idiots just print more notes? That's what mugabe did. 2 billion can be one note. They had up to 10 trillion dollar notes. Easy solution. This is africa
Cash-strapped state bus company Autopax only able to pay staff half of their salaries“On Monday we will unfortunately not be able to meet the full salary obligations for the month of January and have managed through the operation to collect some funds from fare revenue to pay you 50% of what is due.” State owned = thieves, crooks, liars and tossers doing what they do best Just an addition to the already failed state Sell this entity , the buses are not safe, always laying on the road.breakdowns.when last did they purchase new buses
Cash-strapped state bus company Autopax only able to pay staff half of their salariesCash-strapped state-owned bus company Autopax will not be able to pay full salaries to its 1,071 staff on Monday, acting CEO Tiro Holele announced on Saturday.