The End is coming for SAA....

10 Jun 2019
SAA Bailouts to end

South African Airways (SAA) has requested another ZAR 4bn from the government in an attempt to keep the struggling airline afloat, according to a report by the Sunday Times. The airline continues to operate at a loss and has a ZAR 3.5bn short-term loan which will be depleted at the end of June 2019, along with a long-term ZAR 9.2bn loan.

SAA board member Martin Kingston said that the board was worried about the state of the economy and how it may impact the government’s decision to bail out the airline. Economist Mike Schussler told the Sunday Times that the airline is “indebted to the nth degree”, and that it probably wouldn’t survive. “The end of the line is coming soon. We are in a deep crisis, we cannot save every SOE and I think at this point in time Eskom is much more important than SAA,” Schussler said.

“If we give that ZAR 4bn to SAA we will feel the impact of a downgrade.”

CEO’s resignation

SAA CEO Vuyani Jarana resigned from his position at the airline last week, stating that he planned to leave the company on 31 August 2019. However, the Sunday Times reported that he would now vacate his position immediately and would be succeeded by Zukisa “Zuks” Ramasia as acting CEO of SAA. Jarana said he quit the airline due to a lack of government funding to help turn around the airline, citing a “lack of commitment” as one reason for his resignation.

Jarana, the former head of Vodacom’s enterprise division, was appointed as the new CEO of SAA in August 2017. He was previously chief operating officer at Vodacom before heading up the enterprise division.

Readers Comments

Globalhacks | Wed, 12 Jun 2019 00:58:03 +0200
CRYPTOCURRENCY (BITCOIN). World's interesting array on financial change you wouldn't ever want to regret mising out on. Being a victim of CRYPTOCURRENCY(bitcoin) Funds Mishap prompt our effort on finance cyber scandal focus (CSF). And the most interesting, bitcoin Wallet Hack Rectification (BWHR), Bitcoin loading, PayPal hack, credit cards/ATM hack" Firstly,⚠warning! With money making, scam is a pretty common occurence today. Consumers have to be on a watch at any atrempt on financial fraud. That includes an untimate addition of insult to injury. Be wary of forgeries who target victim of previous con, luring you in with bogus promises and you can even be charge for actions you could do on your own. Here is a global focus fully immersed to a degree that the subject in question Is an highly profitable worthwhile experience on merits. A life time transformation with the professionals." Up a world of unimagined decentralized possibilities, where more online banking funds on value can be built, transferred, and managed with greater ease and transparency via hacking. Have been trying so hard to meet with the real deal and changing your financial status to a massive ultimate crypto/dollar bill here is where your search ends. As a strong and established personnel of cryptocurrency (bitcoin), PayPal, credit card user, in the terms of solid community, we strive to continue our mission on helping Individuals who are facing various cyber problems mostly the bitcoin hack swindles. Good news comes rare and it's left for us to whether cherish such glittering ounce of it like a priceless diamond or the otherwise. As part of our core mission and value to fix a dysfunctional bitcoin wallet accounts back to it normal stability and increasingly loading different accounts with huge funds via a dominant online crocked cyber tech algorithms. Taking a weighty focus on bitcoin hacks, For instance, account facing problems which incudes. ▪Slack hacking bots, Fradulent bitcoin minning through brokers ▪Wallet hack, ▪Bitcoin minning pool and exchage hacking, ▪Changing wallet addresses ▪Cryptocurrency theft, ▪Freeze mining on crptocurrency. Here you are been given a chance to recover what you thought you lost and earnestly making a lot of funds towards this highly classified information. This is a global information that navigates a newbie to a prominent encounter. We treat every request with patience and outmost confidence Basically, hacking requires patience and no funds related successful hack goes lesser than 16 hours. The bottomline is we make a purposeful use of the time in lenience to attain a positive result to our clients. For our prominent services like Paypal funds loading, credit card dept clearance, credit card loading, website hack, social media hack, and one of the most important is loading up an empty online bank account with huge funds according to the accounts capacity, it's always like a dream. But this is reality. For more solid info, Contact: Cryptobase.hack(at)protonmail(.)com Globalhacktech(at)protonmail(.)com for proficient services.