State irked by SAA’s ‘insensitive’ R10bn request

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The R10 billion cash injection request by the SAA business rescue practitioners – in the middle of the Covid-19 pandemic – has irked government, provoking sentiments that the practitioners are being “rogue”, “naughty” and “insensitive”

It’s been almost five months since the ailing national carrier was placed under business rescue, but the business rescue practitioners, Les Matuson and Siviwe Dongwana, have yet to present a financially viable plan to government, creditors and the public.

The insider said the current environment with the outbreak of coronavirus actually provided an opportunity to liquidate SAA and start a new airline, which was the Treasury’s preferred way forward A department insider said the business rescue practitioners were “creating an impression that they had gone rogue”, suggesting the SAA turnaround process was starting to look like a money-making scheme.

An executive member of government who may not be named said a recovery plan had been expected from the business rescue practitioners at the end of February, “but there’s still no plan on the table – yet they want more money. And the approach they’re taking isn’t what was agreed upon in terms of cutting costs. They were given money in February. Now they’re being naughty and very insensitive.

Said the person: “And then they jumped in and say they want money and everybody said: No. We cannot just give you money when you are not giving us a clear plan on what you are supposed to do.”

 

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If any business doesn't make profit it must surely close down. Salary is not like charity or grand, if my skills aren't needed anymore I have to be released. It may sound selfish but is the truth.

R10 billion This cannot be blamed on Coronavirus. The airline is flying paying passengers around the globe , so why are they in the shit hole? How much cash did they generate before this pandemic? R0.0?

This is worrisome 🤔

Can SAA just fall already

This bastards keep asking for funding, but never submitted their financial statements to parliament for two years.

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