SAA Restructuring
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SAA Restructuring
I see in the Sunday Times 6 July 2008 that Transnet has listed their Financial results for 2007/08 and they announced that the pension funds have about R2.8 Billion in excess funding.
As SAA are still part of the pension funds is this Restructuring of SAA a clever way of buying new a/c with the members savings?
As SAA are still part of the pension funds is this Restructuring of SAA a clever way of buying new a/c with the members savings?
Pension Fund Surplus..
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Or even more cunning- maybe they will start a new Airline with the money and that way it will be easier to steal it for themselves! Why make the Treasury rich when you can make yourself rich!
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Take the R2.8bn that belongs to the pension funds (actually it's members) and use that to buy a 49% share in SAA and Voila, you are a rich man (group of crooked men). It also helps when the DA are rattling their sabres for your cause (I wonder what they are getting out of it?)!!
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I can't believe that anything SAA does is still considered "news" - really it is simply the same old cycle repeating itself. It's purely the presentation of the "changes" which differs.
