SAA

Cape Town – South African Airways (SAA) is bleeding cash. The airline has reported a net cash outflow of R396m in the year to March 31 2012.

The airline has finally released its full-year results, following a period of turmoil at board and executive level.

The final loss for the year after tax was R1.06bn, on a turnover of R22.4bn.

In the director’s report, signed off by acting chairperson Duduzile Myeni and former CEO Siza Mzimela, it is noted that
the airline remains a massively undercapitalised business.

“The directors have given consideration to the short- to medium-term cash flow requirements of the airline. In light of the potential adverse cash flow impact arising from the state of the global airline industry, SAA approached the shareholder for a guarantee to be made available to the amount of R5bn.

"This guarantee has been granted and will be effective from September 1 2012 to September 30 2014,” the director report reads.

The director report further notes that “ the shareholder has indicated that the capital adequacy and business model of the SAA will be assessed".

Bleeding from every orifice imaginable !!

But yet just about every flight on any SAA plane is full in both business and economy.......something is very very wrong here!!!!!!

WESTERN EXPLORER Wrote:

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> But yet just about every flight on any SAA plane
> is full in both business and
> economy.......something is very very wrong
> here!!!!!!


Probably government officials flying around...

Pirhobeta Wrote:

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> WESTERN EXPLORER Wrote:
>

---

>

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> > But yet just about every flight on any SAA
> plane
> > is full in both business and
> > economy.......something is very very wrong
> > here!!!!!!
>
>
> Probably government officials flying around...

Remember those guys don't fly economy.....<

Your "mate" needs to run the numbers again.

Those numbers are wrong, very wrong. Wish this email would die, I've seen it sent to newspapers and radio stations and now posted here.

WESTERN EXPLORER Wrote:

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> But yet just about every flight on any SAA plane
> is full in both business and
> economy.......something is very very wrong
> here!!!!!!


Fleet is ancient?? ...It's like driving a old BMW 730i, you spending more money on maintenance than what it costs to drive a new 5 series....()

Not entirely true either.

1Time had that issue and it sunk them. That was ancient.

The SAA Fleet although not new or the best aircraft (the comparitave version of the 777 would outperform our A340'S) for long haul, by no means ancient.

SAA Flights are full of mostly business travellers earning their Voyager miles. No conspiracy theory.

Why do you defend a company that constantly has to be bailed out by the tax payers... Without us SAA would be in the same boat as 1Time....??

Not defending them, I never fly with SAA directly. I am correcting erroneous posts with incorrect facts.

It's sad 1time went belly up, they had good service and some of the nicest pilots I've come to know flew for them. They had an opportunity to lease more economical Boeing 737-800's which they passed up on. That is the same aircraft operated by Kulula and Mango.

Everyone at 1time was fighting the inevitable, I was in the cockpit for one of their last flights to Cape Town and the Capt an experienced man who flew Mirage F1 AZ's for SAAF was using fuel saving measures wherever possible and even used the brakes sparingly on landing as they also cost plenty (brakes on airliners less effective at high speeds where you can rather use spoilers and reverse thrust to good effect until braking at lower speeds).

Again not defending, correcting BS.

I don't think taxpayers should bail them out. But the facts stated are incorrect.

• Fleet not ancient
  Don't have those number of employees per aircraft

Rather question things like why SAA are stuck with a deal they can't get out of ito their Airbus fleet.

I read somewhere one of the European ''low cost'' airlines were considering expanding into SA, you know anything about this?

Yes, East African destinations as a start.

Mango expanding too. They are taking up CT-PE flights soon as per their press release, an old 1time service.
Mango might also venture into cross border routes soon, similar to what 1time offered but perhaps offering more routes.

From my view, the first carrier to start servicing JHB-East African destinations will coin it.

In other news you might have seen the original founders of 1time are planning the start of a new low cost airline locally.