Broke SAA in talks for loan - Page 25





Page 25 of 25 FirstFirst ... 15 16 17 18 19 20 21 22 23 24 25
Results 481 to 489 of 489
  1. #481
    Join Date
    Feb 2011
    Location
    Cape Town
    Age
    46
    Posts
    166

    Default Re: Broke SAA in talks for loan

    Ek moet se ek vertrou nie die saak nie. Een oomblik was die regering teen BR die volgende oomblik is hulle daarvoor.

    Dan wys hulle ook self die BRP aan wat glo ongerhoord is, hoe weet daar gaan geen ingemenging wees nie?

  2. #482
    Join Date
    May 2009
    Location
    Ruimsig
    Age
    55
    Posts
    4,100

    Default Re: Broke SAA in talks for loan

    Quote Originally Posted by HannesS View Post
    Ek moet se ek vertrou nie die saak nie. Een oomblik was die regering teen BR die volgende oomblik is hulle daarvoor.

    Dan wys hulle ook self die BRP aan wat glo ongerhoord is, hoe weet daar gaan geen ingemenging wees nie?
    Solidarity approached the court to place SAA in BR awhile ago. Ramaposer and the ANC, as usual, on the back foot, have now gone ahead with it. Solidarity, as I understand it, are challenging this in terms of the structure and process in place for governing BRs.

    I think they have also taken exception to the BRP appointed. We will have to wait and see.
    There is no such thing as inclement weather, only poor selection of clothing.... or Vehicle

    2010 Hummer H3 5.3lt V8, 300 HP, FDL, RDL, CDL, TC and 4:1 Low Range

    Discovery and Range Rovers: SOLD: enough is enough

  3. #483
    Join Date
    Mar 2008
    Location
    De Wildt
    Age
    57
    Posts
    35,894

    Default Re: Broke SAA in talks for loan

    Quote Originally Posted by HannesS View Post
    Ek moet se ek vertrou nie die saak nie. Een oomblik was die regering teen BR die volgende oomblik is hulle daarvoor.

    Dan wys hulle ook self die BRP aan wat glo ongerhoord is, hoe weet daar gaan geen ingemenging wees nie?
    Quote Originally Posted by Estee View Post
    Solidarity approached the court to place SAA in BR awhile ago. Ramaposer and the ANC, as usual, on the back foot, have now gone ahead with it. Solidarity, as I understand it, are challenging this in terms of the structure and process in place for governing BRs.

    I think they have also taken exception to the BRP appointed. We will have to wait and see.
    As I posted earlier, the cANCer, and in particular, Cereal, were forced to do this due to the pending court action from Solidarity. The cANCer had to make it look as if it was their decision: the reality is that the court would have come to the same conclusion and the opposition would have had a field day.

  4. #484
    Join Date
    Feb 2010
    Location
    Centurion + Others
    Age
    60
    Posts
    2,782

    Default Re: Broke SAA in talks for loan

    jelo -
    you've been reading my watsapps......
    Merit before Race - anything else IS Racism.
    Stay Calm, engage low-ratio, keep buggering on - a Landy Man
    Longevity isn't worth dying for,

  5. #485
    Join Date
    Jul 2015
    Location
    Kloof
    Age
    63
    Posts
    382

    Default Re: Broke SAA in talks for loan

    Quote Originally Posted by Capt Chaos View Post
    jelo -
    you've been reading my watsapps......
    I have never ready so many comments in various Pub threads from Jelo in a single day that I almost unreservedly agree with!

    I am sure that if the Unions put R2bn on the table towards the bail out as well, we would all agree that they can participate in a vote on who is appointed as the BRP.
    Last edited by Ian.McM; 2019/12/06 at 04:25 PM.

    2015 Suzuki Grand Vitara Summit M/T

  6. #486
    Join Date
    Dec 2015
    Location
    Pretoria
    Age
    55
    Posts
    351

    Default Re: Broke SAA in talks for loan

    See they forecast R3 billion loss for African airlines next year. Thatís less than SAA alone maybe big turnaround or maybe not part next year anymore.

  7. #487
    Join Date
    Apr 2011
    Location
    Gauteng
    Age
    38
    Posts
    529

    Default Re: Broke SAA in talks for loan

    Quote Originally Posted by stephenplumb View Post
    Just curious about a couple of things as some of you fellows seem to have a handle on this BR malarky. As I understand it, government has not loaned SAA any money, but has rather provided guarantees (stood surety) for the loans that SAA has taken out. Most of these loans are held with local financial institutions as I understand it? Not sure, but for the purposes of this discussion, lets assume that they issued guarantees for the loans.

    So does this mean that the Banks are all screwed and are going to have to write off billions or do they now call on the government to provide the guarantees that they stood surety for? Correct If the former, that seems like a neat way for the government to side step their culpability in this whole mess. If the latter, then does this trigger a call on the all the other government guaranteed debt (Eskom, Denel, Petronet, Prasa, Transnet etc?) in which case we are wiped out as surely as day follows night? No, would only relate to the SAA guarantees. Again if the former, then surely no sane banker would loan anything to the other guys above moving forward as they would risk loosing all that money? So, what likely will be the case will be that government would step into the loan providers' shoes w.r.t debt advanced to SAA. This will potentially result in an unfavourable result of government being the outright largest creditor. Which is particularly concerning as in the Business Rescue Process, creditors have to sign off on the Business Rescue Plan. Which could result in government having a very large say in what happens at SAA. Something that a lot of people hope wouldn't happen because of the Business Rescue.

    Secondly, why happens to the pensions of those who have been working for years at SAA? Are they part of the write down, or a completely separate issue? No, these are in a separate legal entity, managed by Trustee's etc. HOWEVER, it depends if these pensions are Defined Contribution Funds or Defined Benefit Funds. If they are Defined Contribution Funds (something that was used a lot in the past), and the Fund is Underfunded, then there is a potential risk for members as the onus is then on SAA to make sure that there is enough money in the Fund to pay out pensions as and when due.

    The enquiring mind wants to know.

    I hope OUTA pursues cases of delinquent directors against all the other dross at SAA while they are at it with Mnyeni.
    Comments above

  8. #488
    Join Date
    Feb 2009
    Location
    Windhoek
    Age
    37
    Posts
    6,491

    Default Re: Broke SAA in talks for loan

    Quote Originally Posted by Aviator_01 View Post
    Comments above
    Only correct the last portion. Only DB funds can be underfunded. DC's assets always = liabilities as it is self funded.
    VW Touareg V6 Tdi Escape
    Bush Lapa Boskriek 816

  9. #489
    Join Date
    Apr 2011
    Location
    Gauteng
    Age
    38
    Posts
    529

    Default Re: Broke SAA in talks for loan

    Quote Originally Posted by Nys View Post
    Only correct the last portion. Only DB funds can be underfunded. DC's assets always = liabilities as it is self funded.
    Correct, I mixed the two up.

Page 25 of 25 FirstFirst ... 15 16 17 18 19 20 21 22 23 24 25

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •