SAA crisis becomes ANC nightmare – No banking institution wants to borrow R2 billion for bankrupt government-controlled airline

The competition to get SAA free will now begin, which the weakest state-controlled entity now has literally no value.

The government’s inability to live up to its promise and make another R2 billion available to SAA as the largest rescue buoy has now made the entity very shaky.

SAA’s wings cut – bankrupt SOE can only pay salaries in January

The bankrupt, state-owned SAA airline company will manage to pay its staff salaries for January, but that’s where it all ends. With a bankrupt government failing to fulfill its pledge to pump another R2bn into the soe, it looks as Read More …

SAA’S business rescue position – Bankrupt SOE will be restructured,no further bailouts to be handed out – Are their wings finally cut?

Minister Pravin Gordhan’s stance at a board meeting of the bankrupt SA Airways has sent shock waves, the councilors as well as the shipping company’s worker are totally stunned by the so-called “business rescue position” that will be exercised without any Read More …