Boycott SAA because it wastes R5 billion annually. That could fund 120 000 university students, 50 000 RDP houses, 10 (300-bed) hospitals, 300 schools, or 30 000 police. It is your patriotic duty to do so. If you are unpatriotic, Read More …
SAA airline finds itself in a perpetual debt trap that it just can’t escape from without government bailouts – all this because of incompetent ANC politicians, mismanagement and corruption
There’s a lot to take in with this story below of what could potentially become a massive crisis for the South African fiscus and taxpayer. In a telltale sign, suppliers to SAA are slashing their payment periods from 21 days Read More …
So here we go again:- SAA will receive ‘final’ bailout of R5 billion, says Department of Public Enterprises
Everything that the ANC has laid its hands on since 1994 has been tainted, yet ANC members of Parliament say that there is absolutely nothing wrong in our country
Everything that the ANC has laid its hands on since 1994 has been tainted. Institutions, municipalities and services are collapsing. There is not a single success story. Things will only change if the ANC is ousted at the polls. At Read More …
Fraud and theft behind SAA bankruptcy – SAA’s debt is currently R15 billion more than its assets, and banks will no longer lend the airline any money
While the airline is required to present its financials by the end of the month, it cannot do so as it’s technically bankrupt. A report in The City Press on Sunday documents the massive financial problems of state-owned airline South Read More …
All aboard the money flight – SAA executive consultants paid R16 million salaries
Embattled national carrier, South African Airways (SAA), has admitted to paying R16 million in executive consultancy fees. This includes R10 million for three personnel working on a six-month contract. Problems keep boarding SAA on a flight destined for collapse. This Read More …
State-owned enterprises: Which one costs South African taxpayers the most money?
South African state-owned enterprises set the stage for a sad affair. The sordid tale of bottomless funding vanishing under the unexplainable guise of ‘irregular expenditure’ – the millions become indiscernible from the billions, spoken of as fictitious currency. But the Read More …
Costly Head winds pummel the South African Airways
Cash strapped state airline SAA goes on spending spree
Struggling state airline SAA is splurging millions on executives and consulting firms in a spending frenzy that has been described as “worrying”.
Its recently appointed chief executive, Vuyani Jarana, has said the increased expenditure is necessary to address a severe skills shortage.
The Mail & Guardian has established that SAA, which last week received yet another R5‑billion bailout from the treasury, is paying R25‑million to Deutsche Bank in a deal to analyse its financials and restructure its debt.