STUART THEOBALD: SAA business rescue takes SA into uncharted territory

In the coming weeks and months the business rescue of SAA is going to redefine our political economy. The decision to put it into business rescue was brave. Less brave ministers in finance and the department of public enterprises have previously kicked the can down the road, refusing to face up to the inevitable. But we are now so far down the road that the end point is visible on the horizon: the bankruptcy of the whole state.

I doubt anyone has taken that prospect seriously . But if we don’t take it seriously now, we will find ourselves there before we know it. SAA has proved that it cannot evolve into a viable business in which revenue exceeds costs. It is losing money continuously and its liabilities swamp assets. The choice was simple: either the government funds its losses interminably or cuts it off.

The SACP is not happy! They are fuming but they are being held back by the ANC big wigs from voicing their real opinions out loud on this privatization of SAA.

Are you enjoying the show yet? Did you get yourselves a box of popcorn?

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Unions unlikely to be part of SAA business rescueIt 'is important to have an independent and impartial practitioner who is unbiased about all the role players, including the creditors, stakeholders and employees'. Thats so good ........ VijayShadean Greedy unions can't be part of anything positive
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Solidarity backtracks on SAA after meeting business rescue practitionerSolidarity will keep a close eye on the process to ensure no government interference, its CEO Dirk Hermann said.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

SAA board unanimously backs business rescueThe embattled state carrier says it wants to do this at the ‘earliest opportunity’
Source: BDliveSA - 🏆 12. / 63 Read more »

SAA's business rescue practitioner comes with some serious credentials | IOL Business ReportThe struggling SAA board this week entrusted Les Matuson to rescue it out of the turbulence it had been stuck in since 2011. No seriously? A white person has to clean up the shit ? What is the opinion of Julius_S_Malema and the other racists in the politics ? So the MYANC can claim to be the cANCer not the healer !
Source: IOL - 🏆 46. / 51 Read more »