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___________________ Just Remember, We ALL Told You So. | ||
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No one is going to miss them. | |||
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Other than everyone in Africa that depended on them. ___________________ Just Remember, We ALL Told You So. | |||
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Is this the end of SAA? Government shoots down funding request Apr 14 2020 20:34 Londiwe Buthelezi Government has shot down South African Airways' funding request, putting a spanner in the works for the embattled airline's business rescue plan. In a letter to the airline's business rescue practitioners, the department of public enterprises (DPE) said government cannot support SAA's request for further funding of R10 billion or provide any future funding to sustain the business rescue process. Government will also not provide any further guarantees to SAA to facilitate borrowing, it said. The airline made the request for the additional R10 billion on 2 April. The letter, dated 10 April, shows that the airline wanted to increase its foreign currency borrowing limit. "Government will not support the extension of the foreign currency borrowing limit to permit foreign financing of the business rescue plan, nor for a care and maintenance budget as you have proposed," read the DPE's letter. The BRPs told Fin24 that they were "currently assessing" the impact of the latest development on the business rescue process and would communicate any decisions in due course. Economist and director of Econometrix, Azar Jammine, told Fin24 that at some point government was bound to realise that supporting an unsustainable airline was taking money away from other priorities. Faced with the pressures of the coronavirus pandemic and needing to redirect fiscal resources to ramping up testing, it was a good call to make, he said. SAA is hardly functioning at the moment other than flying on rescue missions. They have no revenue coming in. So, the only way they can survive is by pouring more billions of rands into them which is like pouring money into a hole," said Jammine. SAA was placed in voluntary business rescue in December and government announced that it would avail R4 billion to the airline to deal with its short-term liquidity problems until 31 January 2020. But of the R4 billion package, government was only able to secure R2 billion and SAA ran out of money in mid-January, forcing it to halt operations. The joint business rescue practitioners (BRPs) say the lockdown, which banned air travel, forced the airline to request an extension of its foreign borrowing as it now had no income. The BRPs said they are reviewing the situation following government's decision to turn down the request for help. In a letter to affected parties, which include creditors and banks, the BRPs said the airline is still operating, conducting charter flights to return South Africans home and repatriate foreign nationals to various countries. Its cargo division operates unhindered during the lockdown to deliver critical medical supplies to the country, they added. SAA went into business rescue shortly after a crippling strike in November 2019. >>>>>>>>>>>>>> "You've got the strongest hand in the world. That's right. Your hand. The hand that marks the ballot. The hand that pulls the voting lever. Use it, will you" John Wayne | |||
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Hard to feel sorry for them. However, it does seem to me that this will have a major economic impact on the RSA and other countries dependent upon SAA for passengers and cargo. | |||
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The biggest problem if they go under will be the lack on inter Africa transportation. Pretty difficult to get to the Eastern Cape or Zim from the US without SAA. Hopefully some other airlines will start offering flights to those destinations. Air Namibia could easily be the next in line to go belly up. Tom Z NRA Life Member | |||
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In the short past, there were airlines that flew direct from the USA in to Cape Town and Joberg, it is anyones guess what will be available in the future. In looking at available different routes, you could fly through Europe and the Middle East into Namibia, Tanzania, South Africa, and Zimbabwe, plus a few additional African countries. In checking yesterday there are some routes available today, however most African countries are closed to USA citizens. I was reading about the airline difficulties and it is projected it will take 5 years to return to what travelers had available before the current pandemic started. It appeared that travel to parts of South America, Europe, Australia and Asia will be the first flight corridors that will open. No mention on travel routes to Africa opening anytime soon. Which leads me to believe that we probably will be flying through Europe or Asia to make our way to Africa if you want to hunt there. >>>>>>>>>>>>>> "You've got the strongest hand in the world. That's right. Your hand. The hand that marks the ballot. The hand that pulls the voting lever. Use it, will you" John Wayne | |||
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IDK, Emirates flies to Harare, Jo’burg and Cape Town, so getting there from the U.S. is pretty easy. Travel once there may be a bit more difficult but when all else fails you can get around the old fashioned way... by vehicle. | |||
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And Qatar Airlines flies to Windhoek. Longer flight overall, but much better airline. STAY IN THE FIGHT! | |||
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Qatar also flies to Joberg - for $1000 less( business class) than Emirates..... Vote Trump- Putin’s best friend… To quote a former AND CURRENT Trumpiteer - DUMP TRUMP | |||
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I hope that there will be some outfit to fill the gap. Majority of airlines go to J'Burg and people have depended on SAA to get them elsewhere in Africa. | |||
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Great news! SAA will probably be no more.  With less competition, Emirates, Qatar, and Delta will probably reduce their ticket pricing. Oops! My bad.  Oh, and now that SAA is no more, Delta, Emirates, and Qatar can now ship my CITES trophies including Africa's Big 5. Oops! My bad once again. DSC Life Member HSC Life Member NRA Life Member SCI RMEF | |||
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And Qatar Air flies to Gaborone Botswana and so does Ethiopian....or at least did before the shutdown. | |||
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I have a feeling the airline business is going to be very skinny when we're done with the virus. Grizz When the horse has been eliminated, human life may be extended an average of five or more years. James R. Doolitle I think they've been misunderstood. Timothy Tredwell | |||
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The travel landscape is going to look totally different after all this over, than it was before. Won't be able to make any new plans before all that happens. Regular routes are no longer valid. Of course, routes to major destinations will still be effective, others we will just have to wait and see. | |||
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COVID-19 Bailout Last Straw for South African Airways as Government Suspends Funding by Ian McMurtry.. Apr 15, 2020 .. 7:29 PM While other airlines around the globe are receiving cash infusions to keep themselves afloat, the government of South Africa has decided to take the opposite approach. The government has opted to deny future funding for the flag carrier in a push to get the airline to move towards profitability. South Africa instead wants the airline to look at alternative and available resources with ways to stay afloat. The airline has had a rough track record and the recent events have only compacted on the struggling carrier is it attempts to find profitability. SAA had been seeking funding to get itself through the coronavirus epidemic, but the government saw the latest request for cash as the last straw. The airline has lost over R26 billion ($1.4 billion) since 2014 but claims the bailouts are necessary to keep the airline on the path towards profitability. Recently, the airline had been pushing for a cash injection to overhaul its long-haul fleet. The fuel heavy fleet of Airbus A340s was believed to help cause part of South African’s issues. The airline has managed to lease a few Airbus A350s from struggling Chinese conglomerate HNA Group, but has not replaced the entire A340 fleet with the newer model airplane. According to South African source Business Tech, the current Minister of Finance in South Africa Tito Mboweni has been an advocate of cutting funding for the struggling airline and might be using the government’s struggle with coronavirus as leverage to achieve his goal. Mboweni has been the Minister of Finance since 2018, with previous work in South Africa’s Ministry of Labor and South African Reserve Bank and has watched the government-backed carrier struggle his entire political carrier with finding its footing. Minister of the Department of Public Enterprises Pravin Gordhan hopes the airline can find sustainability off this news, saying in Bloomberg, “we are of the firm conviction that South Africa needs a viable and sustainable set of airlines. We must urgently determine the operating and business model for a rescued airline, with a sustainable financial model.” Regardless of South African’s future, the government will be responsible for the flag carrier’s external debts. However, the airline’s internal issues will have to be sorted themselves, either by finding profitability or through liquidation. The parent company had already taken steps to stem the financial pains of COVID-19, including slashing staff and routes from the passenger branches of the flag carrier. The airline has three operators in the main carrier SAA, a low-cost arm called Mango and a cargo carrier called SAA Cargo, only the latter of which is operating consistently right now. SAA’s current passenger operations are limited to rescue and charter flights for citizens stuck abroad. >>>>>>>>>>>>>> "You've got the strongest hand in the world. That's right. Your hand. The hand that marks the ballot. The hand that pulls the voting lever. Use it, will you" John Wayne | |||
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News Flash! With less competition fares go up! | |||
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CULTURAL DEFINITIONS FOR SARCASM sarcasm A form of irony in which apparent praise conceals another, scornful meaning. For example, a sarcastic remark directed at a person who consistently arrives fifteen minutes late for appointments might be, “Oh, you've arrived exactly on time!” ____________________________________________ "Build a man a fire, and he'll be warm for a day. Set a man on fire, and he'll be warm for the rest of his life." Terry Pratchett. | |||
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You forget that BA, Air France, Swissair and at least 3-4 others also fly to both Joberg AND other cities in Southern Africa. SAA will not be missed unless you enjoy bad service and high fares. Vote Trump- Putin’s best friend… To quote a former AND CURRENT Trumpiteer - DUMP TRUMP | |||
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And ground employees who knew how to expertly steal from your luggage! | |||
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I won't miss the bastards. Luggage theft, employees who steal a return ticket and try to sell them, zero help with lost bags, poor customer service, zero help to assist with new seat assignments for a broken leg. Glad they are gone. c _______________________________ Cal Pappas, Willow, Alaska www.CalPappas.com www.CalPappas.blogspot.com 1994 Zimbabwe 1997 Zimbabwe 1998 Zimbabwe 1999 Zimbabwe 1999 Namibia, Botswana, Zambia--vacation 2000 Australia 2002 South Africa 2003 South Africa 2003 Zimbabwe 2005 South Africa 2005 Zimbabwe 2006 Tanzania 2006 Zimbabwe--vacation 2007 Zimbabwe--vacation 2008 Zimbabwe 2012 Australia 2013 South Africa 2013 Zimbabwe 2013 Australia 2016 Zimbabwe 2017 Zimbabwe 2018 South Africa 2018 Zimbabwe--vacation 2019 South Africa 2019 Botswana 2019 Zimbabwe vacation 2021 South Africa 2021 South Africa (2nd hunt a month later) ______________________________ | |||
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I am more concerned about flying to other African countries with firearms from J'burg. Unless someone else starts doing it, that will be a problem. | |||
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That's my concern too, flying with firearms. And I doubt that BA, Air France, and Swiss Air will be flying once daily from Jo'Berg to Bulawayo I think that some of you aren't seeing the whole picture | |||
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Luggage theft is not going away in Johannesburg! It is their way of life. I see today several airlines are declaring bankrupt! Hopefully once this is all over new ones,with better service will come up. | |||
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Cal, the lion share of the baggage theft is from airport personnel not airline personnel. In short, regardless of SAA or no SAA, baggage theft will continue at JNB. Ever since I switched over to the Samsonite Luggage Flite Spinner 28-inch Travel Bag ($170 Amazon) I've never had a single issue. Throw a lockable security strap on it and the pilfering bastards look for easier prey. The Samsonite bag is also extremely light so it is fairly easy to stay within weight restrictions. Most of the other lockable bags are too damn heavy and you wind up paying excess baggage fees. Funny thing about the African worker, when they see a head or two rolling down the deck they row harder for a few moments. Then they go right back to their old ways. The problems at JNB aren't going away any time soon. ___________________ Just Remember, We ALL Told You So. | |||
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*** Since Saeed and his extended family own Emirates Airlines, perhaps he can convince Emirate's management to make an exception to their policy prohibiting CITES trophy shipments (especially for his fellow AR members)? If I recall correctly, all of my trophies were shipped to the states via SAA. Please carry on my friends.  DSC Life Member HSC Life Member NRA Life Member SCI RMEF | |||
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Great, fire them all. Restart the airline with a clean slate and rehire 1/3 of the employees and they can be successful. Put back all the relatives on the government tit, and they will never have a successful airline. | |||
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You can add Ethiopian Airlines to that list. Flew them this year and have to say I was impressed. And, for American hunters, they fly from some US east coast hubs. It won't solve the issue of regional flights within SA so that space needs watching. Having flown both SAA and Ethiopian the difference was chalk and cheese. Let's hope Ethiopian doesn't become a CV casualty. Hunting.... it's not everything, it's the only thing. | |||
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I have flown SAA multiple times with no issues. They are one of the few airlines we from europe can fly to africa and bring fire arms. Not to mention trophies home. Good hunting | |||
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Hmm? Maybe Air Zimbabwe will step up and fill the void left by SAA. Oops! My bad. If I recall correctly, Air Zim has placed their remaining 283 employees on indefinite paid leave and trying to lease their one remaining flight worthy (?) aircraft. Something about not having any qualified pilots. Oh well, there's always Air Namibia. Hmm? Maybe not. Please carry on my friends. DSC Life Member HSC Life Member NRA Life Member SCI RMEF | |||
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I have flown SAA from DC to Joburge several times with no issues. Only thing bad about that particular flight is the amount of refugees that would board in Dakar, Senegal on the return flight. | |||
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SAA is one of the few airlines that will haul trophies so there is that. Otherwise, they can go to hell. Emirates or Qatar for me. | |||
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No one out side of the industry knows the half of it. Virgin Australia announced that they are going into receivership today. Most major airlines are looking at 100's of million dollars of losses for the next 2-3 years. Frank "I don't know what there is about buffalo that frightens me so.....He looks like he hates you personally. He looks like you owe him money." - Robert Ruark, Horn of the Hunter, 1953 NRA Life, SAF Life, CRPA Life, DRSS lite | |||
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I think part of the issue for the airlines is that they were heavily leveraged. So, if the income streams stop then the house of cards falls. | |||
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The plight of SAA is the same as Escom. Decades of mismanagement, corruption, incompetence, and bloated operations. The Zuma-Gupta legacy will be long lived. ___________________ Just Remember, We ALL Told You So. | |||
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