The biggest problem SN has is that none of their people are forward thinking - everyone seems to live in the past!
Example: BeCA's obsession with proving themselves right about SAirGroup's 'mismanagement' - so much so that they claim that the strikes were to highlight that. Given that SAirGroup was going to be providing the additional funding as full and final settlement of its obligations and then detach SN, it had no further interest in the company. Even SN's CEO, Christoph Muller, was reappointed by the Belgian government and severed all of his links with SAirGroup.
So who the ***** CARES about what happened in the past? It's over, it's done, it's finished. Look to the
future people - unless you do, it's going to be a perilously short one!
The latest bit of insanity from Brussels is that the Belgian government and SN are suing SAirGroup for the €200 million that was supposed to have arrived on Monday and didn't - and which of course means that the Belgian government isn't permitted to pump further capital in either.
Don't these people have
any understanding of bankruptcy law? SN is just another unsecured creditor and as such will get its share of any payout if and when SAirGroup is finally liquidated. A cross-border lawsuit is expensive and the only people who gain are the lawyers!
To me, the only viable part of the whole mess is DAT which can be easily seperated off and sold. KLM and Air France (which has an extensive African network) coupled with some of the UK carriers and especially Ryanair will take over SN's few remaining passengers seamlessly. As
Arctic Wolf pointed out, take away NATO and the EU and you don't have a lot!
Hopefully this will now cause the Belgian government to wake up and smell the coffee as well - and do a complete overhaul of their social security, union and other legislation which makes them the least popular country in Europe for inward investment - despite the presence of the EU and NATO!