In a leaked letter, Cassius Lubisi, secretary of cabinet, said that Ramaphosa had made the order due to the"dire situation" facing the embattled national carrier.
"This is the only viable route open to the government to avoid an uncontrolled implosion of the national airline," the letter reads. "The voluntary business rescue approach will also prevent liquidation applications by any of SAA's creditors, which would land the airline in an even worse position. We remain seized with the SAA crisis and will keep members of the executive informed at all material times," the letter continued.correspondence to members of the cabinet and deputy ministers.
"It is extremely unfortunate that this correspondence would have made its way into the public domain in this manner as it undermines the very processes underway to deal with the very dire situation at SAA," she said.
Is it a must for a country to have its own airline? How are other small airlines surviving and they are far cheaper than SAA? I think we should just kill this dead elephant. Its just eating our tax money. We are taxed to fund something which is not even useful Only politicians
They should put Eskom into liquidation too
Everything For Free
Let it go to hell
Legacy of Zuma
Bravo, unions are still celebrating the the strike and increases? Idiots. Socialist policies just don’t fucking work in the aviation industry.
MagaselaMzobe Nothing to rescue without govt bail out. Just another unsuccessful business rescue practitioner to make a killing
Finally the last chapter in the book.
Finally the tax relieve
This shit must go down. Enough is enough.
Urgent, expired about 12yrs ago.
Just privatize the damn thing and list it on the JSE
Trader1137 No rescueing this one
Great decision, long overdue! But I’ll effectively like to see this entity’s balance sheet. something is amiss there.The misalignment between their assets and liabilities for such a big entity spells “crook”.someone is milking this entity dry and we need to know what’s going on.
Future Headline: SAA sold for R1
Dnst sound like a good story to tell
Well I hope the BRP will have free reign. Reduce staff , sell of assets and just restructure the mother fucker.
U mean sell
I feel sorry for all of the innocent staff that tried their best....
They deliberately sabotaging these SOE's for the purpose of privatization for their own benefit.
The ANC pulled SAA through its arse - it’s important to understand all our SOE’s including Eskom are in a similar state - perhaps the Gupta’s will buy it
Who is the business rescue practitioner? Hopefully not a crook.
Safa SAphela isizwe esimnyama😥
Problem reaction solution
Who is the BBBEE and Affirmative action business rescue practitioner?! Connected to ANC elite?
Cyril and Pravin doing their masters bidding
We warned years ago of a grand Stellenbosch plan to sell all SOEs to Private sector, kill of government so that it can be a full time beggar of private sector. Zuma was a distraction hence he had to be removed. Black masses are no fools ya'll will learn soon.
Which firm has been appointed to do this?
Crash and burn!!! Only the beginning. Lenders withholding money from state, directors delinquent and business rescue threatened against most...unless ANC acts in the interest of the country and stop unions and looting our new overlords the IMF will arrive! Personally Im exited!
Who is rescuing SAA? Our tax money? Why can’t we sell this dead horse! Yhuuu
Sell unnecessary assets and close off - less non routes,review some contracts (someone is defrauding this thing), kill of Mango (incorporate it ka SAA) and privatize some parts of it... It will help
Shouldn't it be liquidation?
Privatization
Lol ya'll take us for poes we've been knew it was a plan all along. Which other SOEs are next on sale, Eskom perhaps? We are ahead of Whites & their bootlickers boCyril & Pravin in SA but sthule syabuka nje....we are coming for everything.
Pravin Jamnadas Gordhan is to blame, busy collapsing our SOEs for his WMC to salvage the carcass..
Sembi. Yikes.
Finally
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: eNCA - 🏆 49. / 51 Read more »