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SAA can be rescued with requisite funding – administrators

Discussions with government reportedly ongoing.
A South African Airways aircraft is seen at OR Tambo International Airport in Johannesburg. Image: Reuters

There is a still a “reasonable prospect” South African Airways can be rescued, if it gets the requisite funding, the struggling state-owned airline’s administrators said in a letter to affected parties on Wednesday.

The administrators added in the letter seen by Reuters that discussions were being held with the government to possibly restructure the airline.

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The only way it will survive is when the ANC cadres and family fly around with it at exorbitant prices the taxpayer will pay.

Hahaa. Wonder who has the guts to fly first. Capetown nogal. Not sure there is a “cadre” alive with a clean enough conscience to take the chance.

Looks like this comedy is never gonna end.

We made to understand that ” the rotten smell “” started way back 2014 and since then – one one could ” catch ” the rat. Now we need to go through the same routine again – if as business rescue plan” relates. What a waste !! I don’t buy it – something is missing here – I smell a rat . Someone is holding back critical Info….

It’s well possible to float SAA (and Eskom) with SA’s entire retirement fund industry of R4+bn in assets 🙁

(What’s not to like which such bonds’ inflation-beating % returns?)

….better to go and speak to Magnus H. Seems he was right after all.

For a while, pumping any business full of cash will get it to survive ie pay creditors. The business model is the issue with SAA-too many free tickets for politicians, too much stealing and too many ANC cadres employed.

COVID 19 has annihilated well managed airlines in the First World( Lufthansa, Virgin , AA etc) – and we have an airline whose chairperson was just declared delinquent.

Its time…to let it go…even if our elderly Jamnadas misses it

End of comments.

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