SAA needs R3.5 billion by March, says interim CFO

  • 📰 mailandguardian
  • ⏱ Reading Time:
  • 1 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 4%
  • Publisher: 92%

South Africa Headlines News

South Africa Latest News,South Africa Headlines

The interim chief financial officer of SAA, Deon Fredericks, has told Parliament that the embattled national carrier has a procurement requirement of R3.5-billion for the next four months, and needs to find the money.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

What are these people doing? They obviously don’t know how to run an airline. I did an audit of Sun Air’s liquidation and a recommendation for an investor. So, even I could do a better job than the yokels running SAA now.

No,no rather it must fall waist of money

Take your offer and fck off. SAA is no longer that important. Rather use the money SAA wants and spend it on ESKOM to end load shedding. We have other airlines, SAA is not as important as electricity that would destroy the economy. Time to use taxes smartly. SAA SHOULD FALL

They will be bailed out as usual ... along with the SABC and ESKOM

let's close it.

To buy 'stuff' .......

Just OLX it, we tired😡

The pot is empty for Eskom but SAA can continue to get this kind of ridiculous BailOut - no bail - go straight to jail the whole lot under DuduMyeni & her gang of crooks!

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SAA needs R3.5 billion by March, says interim CFOThe interim chief financial officer of SAA, Deon Fredericks, has told Parliament that the embattled national carrier has a procurement requirement of R3.5bn for the next four months, and needs to find the money. LeboLola Fin24 At least he’s doing his job. Forecasting figures and such. Fin24 Then find ways of raising the amount needed without getting a bailout from tax payers. Fin24 Fine, u want the money? U can have it.... From those whom have looted from it. Take it from them. Not from the taxpayer.
Source: News24 - 🏆 4. / 80 Read more »

SAA secures R3.5bn loan to keep operating until MarchThe cash-strapped flag carrier says the loan is needed to keep it operating until the end of the financial year in March. Fin24 Where does this money all go ? How does this lose money ? Fin24 Unfreaking believable. Fin24 Here we go again. Another R3.5bn down the toilet.
Source: News24 - 🏆 4. / 80 Read more »

Embattled SAA needs R3.5bnSouth African Airways is in need of a substantial amount of money to salvage itself. Can someone wake me up we talking about people with degrees/post qualification/lot of experience but are failing what's wrong? I think we must take street vendors and spaza owners to run SAA. what do u think. Holy crap. Last month it was 3 billion. Growing by the day. Get rid of the crooks in SAA, then things will improve. But better still shut it down. What about the embattled tax payers? I’m so tired of paying for these incompetent blacks trying to run something.
Source: eNCA - 🏆 49. / 51 Read more »

Embattled SAA needs R3.5bnSouth African Airways is in need of a substantial amount of money to salvage itself. Money that should be feeding the poor, used in health or improving education system is used to bail out SOEs, we are failing as a nation, our so called leaders are failing to account, how many times are they going to be bailed out? Well they ain't gonna get it then, why must they bail out corrupt useless Saa Keep on dreaming. SAA will not get the bail out.
Source: eNCA - 🏆 49. / 51 Read more »

SAA tells MPs it needs nearly R17bn by MarchThe airline has also pushed back its break-even date to 2021 . This is SAA is bleeding SA no to hell really!!!!!!!! holy cow! it was R3.5b this morning Like every other SOE, SAA is too shit to fail.
Source: BDliveSA - 🏆 12. / 63 Read more »

A consortium reportedly offers loan to ailing SAASouth African Airways says it needs an additional R3.5-bil­lion before March 2019. Probably a Chinese consortium Sure why not sell our national carrier to the highest bidder. Zuma sold the rest of S.A to Guptas, now his bitch is selling saa after using it as her own bank account. What's left for anc to loot ?.....health-care, education, pensions. Give it ALL to the zumas Please SAA accept their after Pravin has gone through the fine print. We can't afford to bail you out every year. And I think you also tired of coming up with a turnaround plan every year
Source: eNCA - 🏆 49. / 51 Read more »

A consortium reportedly offers loan to ailing SAASouth African Airways says it needs an additional R3.5-bil­lion before March 2019. I’ll me more comfortable with SAA being partly private owned I must say. Right now they’ve a huge unbearable liability for we the tax payers. PresidencyZA Ramaphosa must make a decree for all government ministers/seniors to fly SAA to everywhere. Which consortium Is the consortium by any chance called treasury
Source: eNCA - 🏆 49. / 51 Read more »

YouTubeNeem tree, also known as Azadirachta Indica has a plethora of benefits to offer.
Source: SABC News Online - 🏆 32. / 51 Read more »

SAA needs R21.7bn just to stay in the air until mid-2019 – failure a systemic threat to South AfricaOfficial discussions are under way about providing the financially troubled SAA with another R9.2-billion by March 2019, Parliament’s public enterprise committee heard on Tuesday. Such a financial parachute would come within just four months after the R5-billion bailout the National Assembly is expected to approve on Wednesday as a special appropriation. SAA told MPs it actually needed R21.7-billion to stay in the air. And that would have to come from government, according to its approved corporate plan, ‘Shareholder to recapitalise SAA’. marianne_merten Close it down. SA is more important than SAA! marianne_merten Don’t they going to stay in the air🙈 marianne_merten What if they just parked the planes off, sub lease all planes and equipment. And govt just paid the difference to settle the debt. Would that be 'cheaper' than actually operating the airline?
Source: dailymaverick - 🏆 3. / 84 Read more »

SAA needs more urgent funding for turnaroundWhile the turnaround strategy initially envisaged SAA being on a sustainable path by 2020, CEO Vuyani Jarana says the date has now been pushed back by a year 😂😂 How can we be sure that the money is not going to some obscure, unnamed Gupta entity or another VBS type scheme? Just sell it!
Source: BDliveSA - 🏆 12. / 63 Read more »