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Old 12th Apr 2007, 11:29
  #16 (permalink)  
Avi8tor
 
Join Date: Sep 2001
Location: Dubai
Age: 57
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SAX

Sorry Guys

SAX is also on the verge of bankrupcy. VERY good story in the Business Day a few weeks back. Will try find it. Basically says SAX also uses some very 'interesting' accounting practice. Makes profit, but always needs R200mill from me, the tax payer.

SAX own auditors not sure it has the funds to meet its up coming commitments. Zero mantainance reserves. Also owes Transnet a fortune, like a BILLION rands.

But back to the topic, if SAA was broken up, the routes would become be up for grabs, wouldn't be too long before everybody else was operating international. The flying wouldn't stop, just wouldn't cost me money.

Short term pain for long term gain. Lets get on with it, sooner the better.
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