SAA bankrupt - again
Join Date: Aug 2007
Location: South Africa
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Thanks davidash, at last some sense. I can't believe that most of the preceding drivel comes from airline professionals? They would be more at home with the ANC youth league, would fit right in with Julius M's rationale!
Viva SAA loyal staff and professionals that are trying to make a difference - VIVA!
Viva SAA loyal staff and professionals that are trying to make a difference - VIVA!
Join Date: Aug 2007
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OK.
So SAA is insolvent.
Not bankrupt.
JUST insolvent.
They can't pay their bills, for whatever reason.
Other companies that can't pay their bills are also "insolvent".
BUT other companies do not have the taxpayer's deep pockets, therefore they close down.
SAA is insolvent, but don't have to close down.
YET.
So SAA is insolvent.
Not bankrupt.
JUST insolvent.
They can't pay their bills, for whatever reason.
Other companies that can't pay their bills are also "insolvent".
BUT other companies do not have the taxpayer's deep pockets, therefore they close down.
SAA is insolvent, but don't have to close down.
YET.
Join Date: Apr 2008
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If Sabena and Swissair were allowed to go under, with their far larger and wider tax bases, can the Fat Cat politicians in South Africa not see where this is going?
I suppose it is a case of living in Cloud Cuckoo Land, with the firm belief that the Honkeys can always be milked for some more folding stuff.
I suppose it is a case of living in Cloud Cuckoo Land, with the firm belief that the Honkeys can always be milked for some more folding stuff.
Paxing All Over The World
African politicians still want 'their' airline. They still believe that it is a symbol of them (as indeed it is - but NOT in the way they think it is!).
You all know that SAA is not going to be sold off when they have just started selling tickets for some football matches to be held next year.
European governments wised up about national airlines in the 1980s and 90s. For African countries, it usually has to wait until things are VERY much worse than now, before they are allowed to go to the financial wall. Don't forget that you will soon have a new President who intimately understands the business of putting up a good show and he will want his pretty little airline to be there - even though he will never travel on it.
Just keep on paying the taxes ...
You all know that SAA is not going to be sold off when they have just started selling tickets for some football matches to be held next year.
European governments wised up about national airlines in the 1980s and 90s. For African countries, it usually has to wait until things are VERY much worse than now, before they are allowed to go to the financial wall. Don't forget that you will soon have a new President who intimately understands the business of putting up a good show and he will want his pretty little airline to be there - even though he will never travel on it.
Just keep on paying the taxes ...
Join Date: Mar 2005
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In a recent government meeting regarding SAA, the first item that came up was not (believe it or not) the dismal financial state it's in, but 'Gold Card' type membership for government ministers to allow cheaper travel, akin to British Airways' setup for the UK govt'. That's a good indication of their train (gravy-filled, no doubt) of thought I would say.
