On October 2 2008 outgoing public enterprises minister Alec Erwin wrote a reply to a parliamentary question saying that since 2004 the government had pumped R9.2bn capital into SAA and provided a further R2.9bn in guarantees.
From 2002 to 2008, Erwin said, SAA had lost R13.74bn, excluding restructuring costs of R1.35bn. For years I kept a copy of Business Day from around 2006, where a front-page item quoted Erwin promising this last bailout to indeed be the last. If only.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
Bruceps No it is just a Cosatu milk cow at the tax payers expense. Now Pravin is determined to launch a new vanity airline which should be called the Spruce Goose project.
You are a bias journalist serving the WMC shut up
Bruceps I haven’t heard of any? Maybe I’m living under a rock?
Bruceps 😂😂😂😂😂😂😂😂😂
ANC has. They quite often have good plans. I have yet to see them execute on one though!
Of course not. The ANC just wants to steal our money. The last time the ANC had a good idea was 1994. ancMuatFall
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LETTER: Nothing left to rescue at SAAPublic enterprises minister is wrong to blame business rescue practitioners for being unfair to employees PG has finally delivered on the WMC mandate and practitioners can take a fall for it Gordhan fought tooth & nail for SAA to be sold just a few years ago. It is now apparent that this was driven by his hatred for Zuma & Myeni .. suddenly he believes SAA can be saved.. tito_mboweni must not give in into this crazy plan to waste our money If Gordhan & the unions want to save SAA they must go find a private buyer & leave public funds out of it.
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Unions call for forensic audit of SAA expenditureLabour unions at South African Airways have called for a forensic audit of all expenditure since the appointment of the business rescue practitioners in December. busrep TheStar_news busrep You employ people to help (Spending money), with no result (lost money). Then institute another exercise (spend money), with no one going to be held accountable (lost money). This is how SA is about this days. Fruitless.
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Richemont sells R40bn in bonds to hedge against tough timesLuxury goods group plans to use proceeds for business development and shoring up its balance sheet
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Acsa reveals that government support of up to R3bn may be required in next 3 yearsAcsa reveals that government support of up to R3bn may be required in next 3 years | IOLTravel racinefleur Travel Another one on the rack... racinefleur Travel Pay a fortune for airport parking and now ACSA wants tax payers support. Rubbish.
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WATCH | Huawei SA announces business partnership with Vusi ThembakwayoSPONSORED | Huawei is proud to announce its partnership with MyGrowthFund CEO VusiThembakwayo – watch the interview to learn more about how the two brands aim to make an impact in people’s lives. HuaweixVusi Huawei MyGrowthFund Huawei MyGrowthFund Great job Vusi.. You are always an inspiration... I feel confident of success when I see a black brother making it.... Bravo Huawei MyGrowthFund Congratulations Team MyGrowthFund
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