SAA has not made a profit since 2011 and is struggling with an unprofitable route network, ageing and inefficient airplanes and a bloated workforce, despite bailouts of more than R20-billion over the past three years.
“No one managing SAA, from Minister Gordhan downwards, anticipated the flight of confidence that the strike would have,” Leitch said. ’HIGH-STAKES GAME’ In a letter to clients dated November 28, Flight Centre said TIC’s underwriters were no longer willing to cover SAA under their Travel Supplier Insolvency benefit due to doubts about long-term viability of the airline.
South African President Cyril Ramaphosa’s government has taken a harder line on SAA recently, saying that repeated bailouts must end as it tries to preserve the country’s last investment-grade credit rating.
Source: News Formal (newsformal.com)
Kill the company. ANC looted it too death
Victory for corrupt management...total shutdown/collapse is a reality...Victory to Numsa no need for toyi toyi in future
Are we still blaming Zuma for all these? I don’t play politics but clearly Pravin is failing
Into the gutter.....
Ayivalwe
Sell SAA
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