“These managers are still making poor decisions at grave cost to the airline... The results of the ballot reaffirm our stance that the only way to save SAA and put it on a sustainable path is to ensure that a capable and experienced management team is put in place. It is therefore our view that the business rescue practitioners must prioritise a thorough investigation into the conduct of the current management team and take effective corrective action.
The pilots have also asked that a retired or active pilot be appointed to the board of SAA and that flight operations are restructured. “We understand that the process upon which the airline is embarking on will not be an easy one. Yet we are convinced that, if done properly, it can effectively address the ongoing and crippling effects of the years of mismanagement, and put the airline back on a financially stable and sustainable trajectory,” says the statement.
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SAA gets emergency funding from development bankCash-strapped state carrier South African Airways (SAA) will receive R3.5bn of emergency funding from the Development Bank of Southern Africa, the airline's business rescue practitioners said on Tuesday. They should just buy SAA. We thank the Lord If all we can get funders easily as SAA🤔
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SAA gets R3.5bn lifeline from Development BankEmbattled national carrier SA Airways (SAA) has secured R3.5bn in funding from the Development Bank of Southern Africa. Er...but DBSA is owned by the SA guavament, ie the SA taxpayer. So Joe Taxpayer is getting screwed anyway. Now MPs, past and present, can continue with thr free rides at tax payers expense 🙄🙄 GovernmentZA ParliamentofRSA tito_mboweni CyrilRamaphosa SamuelLJackson MYANC SACP1921 _cosatu OUTASA Development bank was created to fund roads, dams, bridges, and other development infrastructure that falls under the category of 'public goods.' Loss of fucus, causes loss of funds. Moody's, please downgrade he them today
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