Posts tagged with 'SAA'

 

#Gupta 2.0 – Harith, New Owner of SAA Set up by Mbeki Ramaphosa Faction Using Government Pension Funds?

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Did anyone ask us? When connecting the dots, as Pravin Gordhan instructed, it seems the privatisation of SAA is yet another plunder scam by the ANC mafia. Harith, the new owner of SAA, was setup by the Mbeki and Ramaphosa faction of the ANC, possibly using funds belonging to the Government Employee’s Pension Fund (PIC). Just like when multi billionaire Oligarchs were created after the fall of the USSR, by funneling state public assets into private crony pockets. the privatization of SAA is just a massive ploy, designed to capture SAA for businessmen connected to Ramaphosa’s faction of the ANC! Was SAA deliberately bankrupted to enable this plunder of our assets?

The minister of Public Enterprises, Pravin Gordhan, announced on Friday 11 June that a consortium called Takatso will acquire SAA and will own 51% in it.

Takatso consists of Harith General Partners, a 100% black owned company, and Global Aviation. Takatso will allegedly invest R
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Mango Flights Temporarily Grounded From May 1 After ANC Government Delays Paying Out Bailout Funds!

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Mango’s flights will no longer be in the air from 1st of May 2021. This comes after the flight operator waited for months for their share of the bailout money, which was granted by the government to SAA.

The SAA received a bailout from the government of approximately R2.7 billion, of which R10.5 billion had to go to the SAA subsidiaries, AirChefs, Mango and the SAA technical company.

To date, Mango has not received a cent of the money, which reportedly had to be paid over to them in October 2020. It is currently estimated that the money will be paid to Mango by June this year. Which is unfortunately too late for Mango’s creditors.

The creditors have now issued an ultimatum to Mango, if their fees are not received by 30 April 2021, all Mango flights must remain grounded.

Mango’s acting chief executive William Ndlovo explained the situation in an email to employees this week. He announced that Mango had applied for business rescue, but until help was re
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Are ANC Lying About CoronaVirus Figures Like Their Chinese Communist Counterparts, and Are They Using it to Smear & Blame White People Again?

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As the world hits 150,000 infections globally, “Black Twitter” as it is known in SA, is spreading the myth that black people do not get Coronavirus! At the same time, one of the glaring things to come out of the surprisingly few coronavirus cases in South Africa, is that no infections were exported from China to SA? This despite there being multiple times more people coming from China to SA than Italy, yet it is Europe that the ANC seems intent on blaming for its Coronavirus infections.

In fact an SABC “executive producer” with a long title, made an entire report, with fancy graphics, about all Africa’s infections coming from Europe, even though there are over a million Chinese workers in Africa! However the Twitterati and WHO had a heart attack when people called it the “ChineseCorona” virus, even though that is where it started, but it is ok to point fingers at Europe? WHO was also very happy to announce that the virus’ focus has now moved to Europe! Ironically,
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Deliberate Losses: Affirmative Action & BEE, A Scam That Bankrupted an Entire Country & ALL its State Owned Enterprises! Allowed To Steal Tons of Cash Just For Being Black, Not For Adding Any Value!

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Never before has there been as big a fraud perpetrated upon hardworking taxpayers than that which the majority black population has perpetrated upon South Africa. Imagine you know someone high up at a state owned utility, and because you are black, (and probably an ANC member too), you can add a 10% markup to the SOE’s services or product price and then have that 10% paid into your bank account. You then sit back and the money rolls in. By selling your blackness, to the utility to give it affirmative action credibility, you become a billionaire… you don’t work, you just steal. 

This nationwide fraud is institutional, structural and even official and is akin to legalised plunder! Like making something legal that was previously illegal, like marijuana was, defrauding the state has become legal in ALL its departments and State Owned Enterprises. It has become the norm, not the exception. Despite the fact that last year Cyril Ramaphosa, pirate in chief, declared the state coff
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#TheBlackFigLeaf To Excuse Corruption, Hide Black Incompetence & Plunder SOE’s! How Nontsasa Memela Used “Transformation” To Plunder SAA!

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When Zuma said “corruption” is a European word, he meant corruption itself in African culture is normal & OK, it is just Europeans who choose to make it a bad thing. At SAA, like everywhere else, they did it #TheAfricanWay. The truth is, wide scale corruption was revealed at SAA before the Zondo commission. It seems wherever there was a black man or woman in charge of anything, there was theft, fraud & corruption. 

Seems Zuma was telling the truth and it really does look like corruption is embedded in the African culture. Let us take the case of “Adv.” Nontsasa Memela, who was head of acquisition for SAA Technical (SAAT). Being African and not seeing anything wrong with corruption, she openly sat in front of the Zondo commission and lied. Like elsewhere, a lot of money was lost at SAA through corruption, bringing the entire enterprise to the brink.

The National Union of Metalworkers of SA (NUMSA) even warned SAA about the corruption but were ignored by S
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Embattled National Carrier gets R3.5bn lifeline from Development Bank

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SA Airways (SAA) has secured R3.5bn in funding from the Development Bank of Southern Africa.

“Discussions held with financial institutions have been fruitful,” joint SAA business rescue practitioners Les Matuson and Siviwe Dongwana said in a statement on Tuesday.

The business rescue practitioners, supported by the departments of public enterprises and National Treasury, obtained the funding needed to meet the short term liquidity requirements of the airline.

“Discussions held with financial institutions have been fruitful, with the DBSA offering to provide the next tranche of funding, for a total amount of R3.5bn, with an immediate drawdown of R2bn.

“Furthermore, funding for the restructuring phase after the [business rescue] plan is adopted is being considered by potential funders,” read the statement.

“The advancement of the funds comes on the back of the business rescue process which began on 5 December 2019, with the local commercial banks
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SAA crisis becomes ANC nightmare – No banking institution wants to borrow R2 billion for bankrupt government-controlled entity

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The competition to get SAA free will now begin, which the weakest state-controlled entity now has literally no value.

The government’s inability to live up to its promise and make another R2 billion available to SAA as the largest rescue buoy has now made the entity very shaky.

Salaries for January can still be paid, but after that it will struggle, and in the meantime Minister Tito Mboweni is trying to convince all the bankers in the country to borrow the R2 billion.

Approximately 12 flight routes were abolished, destroying thousands of people’s travel plans and those who were prepared had to be content to get on with Mango Shipping.

A week of complete chaos is over, but the outlook for this week is as bleak as it was last week.

According to press reports, it appears that many ANC members of parliament are in favor of liquidating the SAA to lighten the load on the state coffers.

Now, a new shipping company is considering, “what with a much better bus
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SAA’s wings cut – bankrupt SOE can only pay salaries in January

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The bankrupt, state-owned SAA airline company will manage to pay its staff salaries for January, but that’s where it all ends.

With a bankrupt government failing to fulfill its pledge to pump another R2bn into the soe, it looks as if SAL will not remain standing.

The airfreight company faces three serious problems, and the solutions to this are vague and unclear, as different measures could not create a better situation.

The SAA needs at least R2bn to get its planes up, but with the many cancellations it has had to announce, its passengers are becoming less and less and profitability is becoming almost impossible.

The government’s inability to borrow R2 billion from any banker in the country has failed, which is now seen as a vote of no confidence in the financial approaches the regime is following.

It can inflict a final blow.

The large number of workers who should never have been hired is another reason why the state-run entity is faltering in the a
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ANC regime has driven SA into bankruptcy over a 25-year period

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The extremely dire situation in which South Africa finds itself has raised the question of whether it is not yet time to make a survey of everything that has been destroyed in 25 years.

A political analyst points out that the first red light came on when municipalities across the country, all of which had cash stashed  up over years, suddenly turned red in the face of bankers.

Today, there is probably not one municipality that is either totally bankrupt, or hesitates on the brink of bankruptcy.

The debt burden of billions of rand in municipal structures is one of the surest ways that South Africa will look just like Zimbabwe in the foreseeable future – tar roads become dust roads, light fires sometimes, and businesses close their doors, one sooner than the other.

The government is in the same position – the latest shock is that the government has failed to raise R2bn so that the bankrupt SAA can resume its flights.

SAA is bankrupt, Eskom’s R450 billion
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Cash-strapped SAA cancels 38 domestic and international flights

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SAA has confirmed its cancellation of 38 domestic and international flights between OR Tambo International Airport and Cape Town, as well as between Johannesburg and Durban’s King Shaka airports.

In a statement, the airline said: “These decisions are in line with SAA’s usual policy of reviewing flights and consolidating services with low demand. Furthermore, during the current process of business rescue, these cancellations represent a responsible strategy to conserve cash and optimise the airline’s position ahead of any further capital investment.”

The airline said it would be reviewing further schedule amendments over the coming days and would communicate any operational changes to its customers.

Those who have already booked the cancelled flights will be re-accommodated on alternative services including Mango.

Below is a list of all the cancelled flights:

The following domestic flights operated by SAA have been cancelled:

Johannesburg (JN
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