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SAA administrators suspend all operations until funding found

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Administrators in charge of South African Airways (SAA) said on Tuesday that they were suspending all operations and putting the struggling state-owned airline under "care and maintenance" until funding for a restructuring plan was found. SAA entered a local form of bankruptcy protection in December, after almost a decade of financial losses, and its longstanding woes have been exacerbated by the COVID-19 pandemic. The administrators published a restructuring plan in June, but the… (www.nasdaq.com) Daha Fazlası...

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ChrisCollingwood
This is just one of several South African State Owned Enterprises that are in financial difficulties. The others are not as visible outside the country.
A sad state of affairs.
Patster
This is what happens when countries comply with the UN desire to return all power to the 'indigenous people'. New Zealand and Australia will be the next to turn thriving economies and countries into dust bowls, begging, and social decay.
Cat3508
Neil Ward 6
They couldn't run a chook raffle. "Cry my beloved country"
pierrecor
I'm from the "Beloved Country" and will not really say much except that the African National Congress (ANC) government looting is at an all-time high, bleeding the country to death. There are more than 200 state entities in the same dire straits and the worst part is the medical departments. As an ex-pilot my heart cries for the Once Proud SAA, the best in the world before the '94 debacles.
mutrock
Mark Kortum 7
My heart cries for the entire country. What happens when a country turns to socialist tyranny to solve its problems. More and worse problems.
yr2012
matt jensen 7
That started when the ANC took control
mitchmackrory
This is very sad. I wish politicians around the world could be brought to real justice.
M20ExecDriver
Flew with them from IAD to JNB with a stop in Dakar, Senegal Bug sprayers came on board, cleaning crews came onboard and passengers came on board, all at the same time. Since when does an airline sell the same seat for the second leg of a flight and make passengers go to another seat, move their carry-ons from the overhead and sit in a seat they didn't purchase? Mismanagement, corruption (mostly this) and people put in management positions they have no idea how to perform. South Africa, a once prosperous country is slowly being driven in to the ground. Corruption, actually THE culture in Africa, is beyond systemic, it's institutionalized
RexBentley
Rex Bentley 5
Never ever trust a commie.
pierrecor
Thanks guys for the mental support. Just killed a 21 old farm boy today, hung him up to a pole and tortured him to death. No-one will be brought to justice - this is how we live - in fear. My apologies, this is not the forum for this type of atrocities - its is unfortunately the facts. ANC justice.
acaciabloom
acaciabloom 4
People get gunned down daily in the USA - that doesnt diminish the atrocity of torturing farm boys in SA but you would also have to consider the amount of innocent blacks that were sadistically tortured during apartheid. The one does not justify the other - but there are 2 sides to every story. Let's stick to aviation here.........
igotthejet
Yeah, let's just sweep the atrocities done to blacks during apartheid under the rug. Got it.

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