LETTER: How to extract remaining value from SAA?
The airline is brain-dead and the government will keep it on life support
What does “radical restructuring” actually mean when applied to SAA by the department of public enterprises? The travellers I spoke to last week while queuing to board at both Cape Town and OR Tambo airports were quite clear about it. Like me, there was no way they would be travelling on SAA any time soon.
SAA is brain-dead. The government will keep it on life support and tell everyone it’s going to recover until such time as any items of value have been harvested and disposed of. If Mango is a separate legal entity it may be worth something. Likewise Air Chefs. Perhaps there is a business case for an aircraft maintenance company in Southern Africa?
The big problem now is how to shut down SAA and extract any remaining value without causing a tsunami of forced debt repayments that would blow the whole house down.
PODCAST | SAA is past salvation, but who do we blame?