Public enterprises minister Pravin Gordhan has trashed the work of SAA's business rescue practitioners Les Matuson and Siviwe Dongwana, saying that with R5,5bn spent since December there has been no demonstrable progress.
He would not allow a fire sale of SAA assets or any move towards liquidation, he said. Gordhan was briefing parliament’s joint committtee on public enterprises on Wednesday evening.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
Of course it has. Shut it down .
Maybe Gordhan should stop interfering then 🙄 SAA
Another major anc f$kup. And Gordan are definitely not without blame he has a big finger in the pie in this whole process
But that is exactly what the government wanted... for the BRP process to have worked, would have costed the ANC too much votes and support. Also too embarrassing to admit that a 75 yo airline gone bankrupt under their corrupt watch
Who are Business Rescue?
Pravin must take full ownership of all the problems at SOEs. He can’t continue to position himself as a saint when the opposite is very true. Own up your mess, PJG.
Who appointed these BRP’s I mistrust the lot of them!🤔🥴😡
CoruscaKhaya BRP thrown under the bus
No Pravin SAA has achieved nothing under the ANC/SACP.
What an idiot. The airline is badly run, looted, overstaffed, too much political interference, what the hell did he expect? Job of BRP is too see if there is anything to save. To save SAA, they needed David Blaine of David Copperfield, not BRP
This was in Feb: “The business rescue practitioners do not own SAA, we do. The day they do something we think is not in line with what we want, we will intervene because we appointed them,” Mashatile said.
Imagine if it was Melusi Gigaba appointed the business rescue people 🤔🤔🤔🤔🧏🏼♂️
Finally the realization that one cannot dress up a 💩 nor make it smell better.
CoruscaKhaya 1. R5bn spent in 6 months, fact. 2. Aircraft leases in US$, fact. 3. BRP wanted R10bn for leases during lockdown, fact 4. Aviation lockdown will be for, at least, 24 months, fact. 5. Treasury refused to pay the R10bn for parked planes, fact. 6. Why are we debating this? opinion.
Proven that governments should not get involved with airlines. Mind you the state of SOE’s speaks for itself.
CoruscaKhaya Who appointed these business rescue practitioners in the first place? Mr Gordhan?
Well, under law it must then be liquidated. The percentage of companies going successfully through a business rescue process is very low and many would say this was a fait accompli before SAA’s BR proceedings even started. Every day this carries on, is a day of more wasted money.
It’s because of your Union Comrades Mr Gordhan not the Practitioner’s fault.
I am not surprised. With the amount of political interference going on the goal posts keep moving.
Agree with Gordan. Should just be closed down. If Comair can't make it fly with their record, NO WAYS SAA could ever make it work with their record. A patronage platform disguised as an airline.
Don’t call the doctor only after the patient is dead.....
Those useless BR Practitioners should return every cent that was paid to them in fees. They dismally failed to come up with a BR plan even within an extended period of time.
Because..... Government interference
I am sure it achieved further abuse of funding
But who appointed them?
Well here is an original thought - maybe they can’t be saved
I new right from the outset that eventually the business rescuer will be set up as the fall guy. New airline? My ass!!!
Continually bailing out SAA with billions of taxpayers money, and not learning your lesson achieves nothing.....it’s time he took that lesson to heart and stops bullshitting the nation
Gordhan must be held responsible for this stupid mess! This so-called “fighting corruption” is becoming a huge liability and CORRUPTION on its own. How the he’ll did they employ this company? Did SAA need it? When did he realise that they’re doing nothing? Toxic & Useless!
Who appointed the business rescue team
pravingordhan R5 Billion bill
That was the aim from the onset. The government made sure they achieve nothing since it was a ploy to avoid liquidation.
It is customary to bury the dead.
Trade unions were never going to allow a proper reformation to a lean mean business machine. Government's 'job creation' has totally chocked the SOE's. We can no longer pay those salaries. ANCParliament create some real jobs.
Hmm. I wonder if he properly understands the process. Alternatively, he understands it completely, but had no intention of ever conceding to it.
The decision was flawed in the first place.
pravingordhan what did you expect from appointing Les Matuson? He knows BRIL not turnaround
Surprised. Not.
ANC including their president are sll political cheaters
So it was just a dummy sold to all who dare to care about the plight of workers?
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Gordhan slams SAA business rescuers for spending R35m on US consultantsThis was disclosed to MPs from the National Assembly and the National Council of Provinces (NCOP) by public enterprises minister Pravin Gordhan during a virtual parliamentary meeting on Wednesday night. Pravin & President must be held accountable for appointing these people! SAA didn’t need this kind of nonsense they’re now blaming on everyone else except themselves. This is pure CORRUPTION & MISMANAGEMENT!! The least of your worries Pravin. You’re going to spend way more to try and resuscitate that business. Time to face up to the truth. Just because you say something doesn’t mean it’s going to happen. nomoremoney why not use South African consultants?
Source: SowetanLIVE - 🏆 13. / 63 Read more »
Gordhan slams SAA business rescuers for spending R35m on US consultantsThe government is unhappy that SAA business rescue practitioners spent between R30m and R35m on American consultants, while it has not yet seen any plan to save the national carrier from total collapse. weeee kanti When did he resign as the Min of SAA? 🤣🤣🤣
Source: TimesLIVE - 🏆 28. / 59 Read more »
Gordhan slams SAA business rescuers for spending R35m on US consultantsThe government is unhappy that SAA business rescue practitioners spent between R30m and R35m on American consultants, while it has not yet seen any plan to save the national carrier from total collapse. weeee kanti When did he resign as the Min of SAA? 🤣🤣🤣
Source: TimesLIVE - 🏆 28. / 59 Read more »
Gordhan slams SAA business rescuers for spending R35m on US consultantsThis was disclosed to MPs from the National Assembly and the National Council of Provinces (NCOP) by public enterprises minister Pravin Gordhan during a virtual parliamentary meeting on Wednesday night. Pravin & President must be held accountable for appointing these people! SAA didn’t need this kind of nonsense they’re now blaming on everyone else except themselves. This is pure CORRUPTION & MISMANAGEMENT!! The least of your worries Pravin. You’re going to spend way more to try and resuscitate that business. Time to face up to the truth. Just because you say something doesn’t mean it’s going to happen. nomoremoney why not use South African consultants?
Source: SowetanLIVE - 🏆 13. / 63 Read more »