The business rescue plan for SAA, which was published on Tuesday night, envisages a restructured airline that will begin flying in the near future due to a new bailout from the government.
It is envisaged that the new company will employ 1,000 of the existing staff with the remainder retrenched.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.
And what about a new name, the corporate identity, cultural change etc etc. or is it simply putting lipstick on the face of a tired and toothless poodle?
Yini engaka kwa SAA? 🤔
StopPlaasmoorde The ANC have NO Clue of complex economics! SAA
“R26bn State bail out for SAA.” Fixed it for you. Same mismanaged SOE disaster as pre-lockdown. Let’s not sugar coat this cANCer turd.
Badelela abantu laba.. Buhluleka uk'bhadala abantu ama R350 wabo
StopPlaasmoorde Nee fok!
Not the state. The taxpayer We need to stop the ANC acting as if it’s their money
We need to come together and stop this as the youth and if we don’t what can we possibly change if so much money keeps on going to the ground without accountability
SouthAfricansP1 Another one to loot...
What did we do to deserve this government. People wake up, this thugs afey stealing the future of our children. Close the bloody damn thing, it's not strategic at all
When are they restructuring this Airlines, this Useless Business Rescue Practitioners
VusiSambo Ntate tito_mboweni TreasuryRSA PresidencyZA if the GovernmentZA can only assit to pay half of my bond. It just a small money.That's all I ask. OUTASA
VusiSambo Pravin is making a killing
VusiSambo What's this? Comedy Hour?
Taxpayers having to pay for this vanity project is simply outrageous.
With the 26 billion, GovernmentZA can build more safe centres for women and children. They can strengthen the police and NPA to fight crime. Ntate CyrilRamaphosa, to condemn crime is not enough.
The anc is a shameless disgrace
Forget the SAA build RDP houses for the elderly and for South Africans. Make schools safe and install proper toilets. STOP wasting our tax money
Yhoooo aah aah....we are back here!
The looters will loot it into oblivion.
Totally wrong heading. Taxpayers again need to give money to anc for their pet product. That is why I will personally make sure that I will pay the least amount of tax possible. I have sponsored enough anc stealings and corruptions
Straight out of relief funds. That's where the R500bn is going. To bail out SOEs and the UIF
Again. Two years pelile. Again.
How about you try to sell it for R26bn, if not one is interested you close it down.
It does not matter how much money you throw at it, nobody is going to fly with them anyway
Absolutely unbelievable. No if there was going to be a riot about something, this is it. What about our education and failing health systems, pothole filled roads, the issues with our water supply, service delivery in the major metros? Clearly SA has too much money.
If its not SAA, who's next, Eskom, SABC? Money Forked out from where? This Government doesn't give a Fork about the masses that must pay for this...
Using the COVID funds well 👌
🤢
Time to call it, re-call the inept and corrupt ANC regime & place THEM under administration.
Does anyone know why the ANC is adamant on rescuing SAA? What do they know that the rest of us don’t? What are we missing? I’d like to think they are rational people, an explanation would be appreciated.
Why? Has not worked and will never. But if it's not your own money spending and wasting comes easy.
Fin 24 says 10 billion, who has the facts?
Where does this money come from?
CoruscaKhaya
there is no poor South Africa
Qwanell_LOSO
The gift that keeps on giving.
That is just the beginning
This is unreal. Anybody with some feel for the industry is bailing out of the mess because of ultra bad non existing future. Somthing like best international practice demand that investment in airline bissines must be avoided at all cost. Government IS FUCKING MAD.
Jamnandas continues to hand out our government money to his friends.
CoruscaKhaya I swear we're being led by airheads. Just kill the damm airline money is tight as it is plus covid 19 is showing us flames. Who the F cares about a national carrier. They should put that money into good use like building proper toilets in rural schools etc
Good thing South Africa is such a rich and flourishing country! Or else this money should have been used for education, Healthcare, safety & security... But an airline is definitely a priority.
CoruscaKhaya I swear we're being led by airheads. Just kill the damm airline money is tight as it is plus covid 19 is showing is flames. Who the F cares about a national carrier. They put that money into good use like building proper toilets in rural schools etc
Travesty! The people are put out of work by poor policy, and you want to bail out a defunct white elephant that serves only the advantaged people of SA. What a strange narrative from a party that stands for all its people. votechange
Should read: After many bail outs, tax payers yet again fork out R26bn for new SAA
The ANC pissing away your tax money like...
Monopoly money i guess
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