Broke SAA in talks for loan - Page 11





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  1. #201
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    Default Re: Broke SAA in talks for loan

    https://www.news24.com/Analysis/anal...eskom-20191114

    Like I said, this is the litmus test. If Mboweni and Gordhan submit to the unions, the country crashes and burns. We should rather pray that only SAA does that.

  2. #202
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    Default Re: Broke SAA in talks for loan

    "Unions say strike will continue until management gives in."

    That says it all.

    What that should lead to is closure of the company, and instead of 1,000 jobs lost...6,000 jobs lost, plus plenty of others at suppliers. Bad decision.


    It's also pretty ironic that the airline is in the midst of taking delivery of four new A350s, just over the next few weeks. First new long-haul aircraft in quite a while, and frankly, aircraft that would help its bottom line since they are much more efficient than the A340s they are to replace. While leased, I'm certain there was some big upfront costs...and now they will sit on the tarmac.

    And from the EFF:

    "The failure of SAA must be put squarely on the Ramaphosa and Gordhan government. They have failed to stabilise the state-owned enterprises (SOE). They have been presiding over the government for two years now and SAA, like other SOEs, is continuing to deteriorate."

    Stabilize the SOE's? Well, that starts with right-sizing the SOE's. In SAA's case, retrenching of 1,000 people. (they actually must retrench more). This is so fundamentally basic. How do these guys even have enough brain capacity to get out of bed, walk to the bathroom, turn on the light, and pee in the toilet? Must be a real brain strain.
    Last edited by heyyahhey; 2019/11/15 at 07:47 AM.

  3. #203
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    Default Re: Broke SAA in talks for loan

    I do not know what is the total sum of loans and outstanding payments to suppliers but as far as I know the government guarantees are only small part of the total loan book.

    How many of the suppliers have been on the gravy train? Over priced supply covered up by kick backs and preferential contracts. If the trend is what has come out in other cases AND also in SAA then many of those suppliers can go bust also or at least banned to make any business with the state.

    Have to look into the total staff complement. What is the productivity? Do they have 2 where 1 would be enough?

    I do not see any other way than letting the company go down. Good people will find employment. The problem are the well connected who just collect their pay in what ever way. They may pop up somewhere else.

    In each battle there are casualties but if the war is won then it is generally accepted. If the battle and the war are lost...
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  4. #204
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    Default Re: Broke SAA in talks for loan

    Quote Originally Posted by jelo View Post
    https://www.news24.com/Analysis/anal...eskom-20191114

    Like I said, this is the litmus test. If Mboweni and Gordhan submit to the unions, the country crashes and burns. We should rather pray that only SAA does that.
    Author of the article came to the same conclusion as I did 2 days back.

    SAA is a battle in a war.
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  5. #205
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    Default Re: Broke SAA in talks for loan

    Quote Originally Posted by Jouko View Post
    Good people will find employment....
    There is very little available worldwide for those with specialized technical aviation skills and as good as nothing locally. Your statement isn't true for everyone that doesn't fit the correct demographic for employment in South Africa now especially in the aviation technical fields.
    The humble person makes room for progress; the arrogant person believes they’re already there.
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  6. #206
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    Default Re: Broke SAA in talks for loan

    Quote Originally Posted by Paul#25 View Post
    There is very little available worldwide for those with specialized technical aviation skills and as good as nothing locally. Your statement isn't true for everyone that doesn't fit the correct demographic for employment in South Africa now especially in the aviation technical fields.
    If SAA closes down that is quite a lot of capacity off. There are profitable routes. Somebody will take over and those companies require people. Normally it can be expected that those who can do the job are hired. There can be a gap between the jobs.
    Jouko
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  7. #207
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    Default Re: Broke SAA in talks for loan

    Quote Originally Posted by Paul#25 View Post
    There is very little available worldwide for those with specialized technical aviation skills and as good as nothing locally. Your statement isn't true for everyone that doesn't fit the correct demographic for employment in South Africa now especially in the aviation technical fields.
    Strongs Paul, difficult times ahead
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  8. #208
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    Default Re: Broke SAA in talks for loan

    The company I work for really battle to find qualified aircraft engineers. And when they do they battle to keep them. Seems to be high demand worldwide for them.

  9. #209

    Default Re: Broke SAA in talks for loan

    In my honest opinion..... let it crash and burn.

    Will only boost the private airlines.

  10. #210
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    Default Re: Broke SAA in talks for loan

    Quote Originally Posted by andrewdjulyan View Post
    The company I work for really battle to find qualified aircraft engineers. And when they do they battle to keep them. Seems to be high demand worldwide for them.
    World wide shortage of pilots. Salaries and conditions may not be near to those who have a job in old style companies.
    Jouko
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  11. #211
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    Default Re: Broke SAA in talks for loan

    While it won't be easy for anyone, I would think pilots would have an easier time finding a job outside SA (with their employer sponsoring a visa) because of the very significant pilot shortage, which will only get worse over the coming years.

    When similar stupid union activity put the company that my father worked for as a pilot out of business, he found good jobs in Japan and Taiwan as contracted captain, and then good opportunities with some corporate aviation companies.

    Cabin crew, ground staff, etc..., not so much. Technical guys should have some opportunities, too I'd think. But no matter what, it will be painful.

  12. #212
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    Default Re: Broke SAA in talks for loan

    They need to cast Dudu Myeni into the wilderness. She should never get employment ever again, not even as a tea girl or mop pusher. They should expropriate her pension and have her sequestrated to sell off her assets to help pay off SAA's debt.

    Useless oxygen thief.
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  13. #213
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    Default Re: Broke SAA in talks for loan

    Quote Originally Posted by Paul#25 View Post
    There is very little available worldwide for those with specialized technical aviation skills and as good as nothing locally. Your statement isn't true for everyone that doesn't fit the correct demographic for employment in South Africa now especially in the aviation technical fields.
    Correct. Being male, white and over 40 means you have no chance in SA.
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  14. #214
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    Default Re: Broke SAA in talks for loan

    Quote Originally Posted by Caracal View Post
    They need to cast Dudu Myeni into the wilderness. She should never get employment ever again, not even as a tea girl or mop pusher. They should expropriate her pension and have her sequestrated to sell off her assets to help pay off SAA's debt.

    Useless oxygen thief.
    Could not have said it better
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  15. #215
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    Default Re: Broke SAA in talks for loan

    Latest:
    https://www.fin24.com/Companies/Indu...ocked-20191115

    R52 milj revenue loss per day. That is not profit... Would be interesting to know which way they lose less. Now or flying.
    Jouko
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  16. #216
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    Default Re: Broke SAA in talks for loan

    Quote Originally Posted by Jouko View Post
    Latest:
    https://www.fin24.com/Companies/Indu...ocked-20191115

    R52 milj revenue loss per day. That is not profit... Would be interesting to know which way they lose less. Now or flying.
    Thats what I say Jouko - better to close the Doors, let everyone just sit around outside and do nothing. It literally is, I'm not being funny here.
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  17. #217
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    Default Re: Broke SAA in talks for loan

    Some political comments:
    https://www.news24.com/SouthAfrica/N...osatu-20191115

    Trade union side complains that ANC did not warn them about the retrenchments. Communists are asking some good questions about middlemen costs and similar. Not saying no to retrenchments. Actually quite interesting approach.
    Jouko
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  18. #218
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    Default Re: Broke SAA in talks for loan

    Cancellations out thru Monday now.

    R 200m gone.

  19. #219
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    Default Re: Broke SAA in talks for loan

    Eskom IIName:  IMG-20191115-WA0113.jpeg
Views: 144
Size:  42.8 KB
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  20. #220
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    Default Re: Broke SAA in talks for loan

    Quote Originally Posted by MickeyBlue42 View Post
    Eskom IIName:  IMG-20191115-WA0113.jpeg
Views: 144
Size:  42.8 KB
    while they are over staffed...that’s a bit of a stretch. There are some 5-6 k at SAA and another 5-6k between mango and SAAT. 10k more or less. Way too many but not 55,000...

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