As an ex SAA Avionics Technician, I and thousands of other employees understand why SAA went under. It is clear, like many or all other SOE, the ANC cadres plundered the funds which was meant to keep the aircrafts in the air. The second major problem is when the ANC government got rid of SKILLED workers, through their BEE policy. This Takatso deal was in my opinion just another way to steal billions from the taxpayers. STATECAPTURE at it's best.
There is not much left to be proud of in SA where the ANC have their fingers in the till. Not sure when we are going to REALLY realise this. Like the rest of Africa, it's a canoe on a river with a waterfall ahead.....
Bringing together the right people with business leadership experience like Gideon who founded a succesful airline and a private equity partner made good sense. Why it did not happen is a reflection of poor leadership focusing on self interest.
he was probably connected to the buyers somehow. It reaks of corruption. Gordan already has blood on his hands, how can we trust him or any of the current muppets.
I am stupid and need enlightening- but if Gordhan says that the value of SAA was R5 billion, how is it that it kepf needing bailouts? Surely if a company is bankrupt, then its 'value' is negative? What am i missing?
Maybe he meant in terms of assets. The assets are worth 5 billion but the assets cannot create revenue without external funding. The revenue isn't even enough to cover the liabilities created by receiving external funding. In SAA's case, it may be considered 'a going concern' or insolvent. Neither which would mean it ceases operations like in a bankruptcy.
A black minister would've been dragged to an early grave by Save SA, Accountability Now, AfriForum, DA and OUTA! But because the minister who was trying to hand SAA on a silver platter to a money-less Takatso even white owned media is quite like a church mouse. No breaking headlines from those platforms!
Uhm, news24 among others have run scathing articles about Gordhan? Its also been difficult for the media to swallow their pride and admit that their 'hero' narrative around Gordhan was misguided. The 'hero' narrative was due to the fact that he was not corrupt during the State capture era. I am no fan of Gordhan.
The ANC cadres did not want the sale to go through as they want to continue to use BEE criminality to keep stealing from SAA and indeed all SOEs. You bring up the race card. In that case . Its almost 30 yrs later ...where is black excellence in state structures? The ANC will bail out SAA again with taxpayer money so that the looting can continue. Stop blaming the white man. If there were more white skills in the public services (that were given the mandate to do their jobs without interference) SA would be a very different place.
Because bee was forced into this transaction. Bee is costing us billions and the taxpayer must just keep quiet. Taxpayers must stop paying tax and let the government feel the suffering
The planned routes are a strange selection. Only two European destinations, Frankfurt and Zurich. 19 to South America, including the tiny airport at Iguassu Falls in Brazil. 12 to other African countries. 18 to Australia and New Zealand including Port Hedland in Australia.
The biggest problem you have now is that most SA taxpayers (potential customers) will not want to support something that has robbed them in the past through bailouts!
It must be said, this entire thing was merely a staged deal to keep the public quiet after SAA had already recieved over R22 Billion in bailouts using South African citizens' money (before COVID). The presure to sell the defunct airline grew, to keep everyone quiet, we were told they were looking for buyers, however, at the final hour of the deal, the DPE asks for a revaluation of the company and then says SAA is actually worth much more now, raising the asking price to one that is nonsensical. The Takatso group said "No thanks, that is a rip off". This was planned all along so that the government could keep SAA - as this was what the government wanted from the beginning - while keeping the public quiet by making us believe they might actually sell it. They think we are dumb but we know this was the plan all along. We have not forgotten. Since 2007 SAA has had over R50 Billion handed to it by the government in bailouts. Time passes, things quieten down and they think the public forgets, so they try to do the same thing, but some of us remember. These bailouts hurt our nation tremendously.
Sounds to me like the consortium tried to buy shares for peanuts and undervalued the current and furure value of SAA to do exactly that. I don't think it's that difficult to value SAA. How did it perform financially before the looting and mismanagement started, then calculate very marginal growth.
Imagine if Edwin Sodi was the capital partner on this deal???? All investigative journalists and Media house would have been up and showing us graphs and powepoints. But we know the skewness of reporting always favours certain being over the othet...
Does anything still work in South Africa? The Africanization process of Mzansi is nearly complete. Verwoerd warned the world this was going to happen... that's why he did what he did.
As an ex SAA Avionics Technician, I and thousands of other employees understand why SAA went under. It is clear, like many or all other SOE, the ANC cadres plundered the funds which was meant to keep the aircrafts in the air. The second major problem is when the ANC government got rid of SKILLED workers, through their BEE policy. This Takatso deal was in my opinion just another way to steal billions from the taxpayers. STATECAPTURE at it's best.
You won't talk about benefits you had at SAA that other airlines don't offer.
Five star hotels SAA pilots used.
Blame the BEE .Sell SAA to EMIRATES or other AIRLINES. There will be no Nepiotism *
While saving SAA is important, there was something off with this deal. Way way off.
Thank God this suspicious deal has collapsed
This guy knew exactly what went wrong, but he gagged not to speak his mind.
There is not much left to be proud of in SA where the ANC have their fingers in the till. Not sure when we are going to REALLY realise this. Like the rest of Africa, it's a canoe on a river with a waterfall ahead.....
Bringing together the right people with business leadership experience like Gideon who founded a succesful airline and a private equity partner made good sense. Why it did not happen is a reflection of poor leadership focusing on self interest.
Last week Pravin Gordhan wanted the takatso deal to be kept secret. Parliament refused, now Pravin is changing his tune.
Pravin is a communist and a criminal through and through! He should be doing hard labour in prison for his treasonous ways.
he was probably connected to the buyers somehow. It reaks of corruption. Gordan already has blood on his hands, how can we trust him or any of the current muppets.
The core of the failure is lack of staff consequence management - can't you see that - who wants to risk money in an inefficient entity
I am stupid and need enlightening- but if Gordhan says that the value of SAA was R5 billion, how is it that it kepf needing bailouts? Surely if a company is bankrupt, then its 'value' is negative? What am i missing?
Maybe he meant in terms of assets. The assets are worth 5 billion but the assets cannot create revenue without external funding. The revenue isn't even enough to cover the liabilities created by receiving external funding. In SAA's case, it may be considered 'a going concern' or insolvent. Neither which would mean it ceases operations like in a bankruptcy.
@@kdigitalproductionservices6581 gotcha- thanks
They got stale mated out,too greedy ,stabbing each other,it,ll go on auction scrap less logistics
Why were all these people quiet for 3 years???
A black minister would've been dragged to an early grave by Save SA, Accountability Now, AfriForum, DA and OUTA! But because the minister who was trying to hand SAA on a silver platter to a money-less Takatso even white owned media is quite like a church mouse. No breaking headlines from those platforms!
Yeah right, you keep on believing that. They love the cuddly bear, right. Pravin keeping it secret etc.!
💯
Yheyi bro, am asking myself all the time, where is investigative journalism, I mean for a whole three years no dossier, nothing?😂
Come on maaaan!!!!!
Uhm, news24 among others have run scathing articles about Gordhan? Its also been difficult for the media to swallow their pride and admit that their 'hero' narrative around Gordhan was misguided. The 'hero' narrative was due to the fact that he was not corrupt during the State capture era. I am no fan of Gordhan.
The ANC cadres did not want the sale to go through as they want to continue to use BEE criminality to keep stealing from SAA and indeed all SOEs. You bring up the race card. In that case . Its almost 30 yrs later ...where is black excellence in state structures? The ANC will bail out SAA again with taxpayer money so that the looting can continue. Stop blaming the white man. If there were more white skills in the public services (that were given the mandate to do their jobs without interference) SA would be a very different place.
Let it fail how many times are they gonna bail out saa
I never understood how Mr Novik could contemplate getting into the same bed with a totally soiled ANC government.
Mr Novik another Jew
Because bee was forced into this transaction. Bee is costing us billions and the taxpayer must just keep quiet. Taxpayers must stop paying tax and let the government feel the suffering
You have no clue about what you are talking about...
Rest!!!
@phyllsmoyo are you also feeding at the trough?😂
The planned routes are a strange selection. Only two European destinations, Frankfurt and Zurich. 19 to South America, including the tiny airport at Iguassu Falls in Brazil. 12 to other African countries. 18 to Australia and New Zealand including Port Hedland in Australia.
Rather interesting this 😮
The biggest problem you have now is that most SA taxpayers (potential customers) will not want to support something that has robbed them in the past through bailouts!
😂😂 thats how democrazy works.
It must be said, this entire thing was merely a staged deal to keep the public quiet after SAA had already recieved over R22 Billion in bailouts using South African citizens' money (before COVID). The presure to sell the defunct airline grew, to keep everyone quiet, we were told they were looking for buyers, however, at the final hour of the deal, the DPE asks for a revaluation of the company and then says SAA is actually worth much more now, raising the asking price to one that is nonsensical. The Takatso group said "No thanks, that is a rip off". This was planned all along so that the government could keep SAA - as this was what the government wanted from the beginning - while keeping the public quiet by making us believe they might actually sell it. They think we are dumb but we know this was the plan all along. We have not forgotten. Since 2007 SAA has had over R50 Billion handed to it by the government in bailouts. Time passes, things quieten down and they think the public forgets, so they try to do the same thing, but some of us remember. These bailouts hurt our nation tremendously.
SAA , Should be placed under Judicial control.
Sounds to me like the consortium tried to buy shares for peanuts and undervalued the current and furure value of SAA to do exactly that. I don't think it's that difficult to value SAA. How did it perform financially before the looting and mismanagement started, then calculate very marginal growth.
How much is a business that doesn't make any profit and only a loss worth?
ANC
Why should Gideon not be allowed take control off SAA and get rid off the hangers on his proofed himself and as a South African why not ??
This deal was straight corruption the Ramaphosa way! There's no need to privatise SAA just manage it the proper way!
Imagine if Edwin Sodi was the capital partner on this deal????
All investigative journalists and Media house would have been up and showing us graphs and powepoints.
But we know the skewness of reporting always favours certain being over the othet...
I'm glad this thing failed. Any deal of this nature should go out to the public for proposals and not to a pre-selected buyer.
SELL THE SAA TO EMIRATES OR OTHER AIRLINES
Yes we see the failure were the profit go too
Howrath or something is Jabu & Garaldine... Gideon wants to be in next deal... Pravin etc... All so crooked
Does anything still work in South Africa?
The Africanization process of Mzansi is nearly complete. Verwoerd warned the world this was going to happen... that's why he did what he did.
Zero Trust Zero Trust Public See Nothing
Where is Kulula now?
VIVA MK!!! they are trembling 😂😂 u destructed their whole plan, they have to return back their investers's money (Rupert)
Viva property, viva no schooling, viva no future
@@LambertOtto when we return back our land I will be able to have property. U can't have property without the land, "slow learner "!!😂😂
@@SleepyBowtieCat-nd5rb And I am sure you will expect the government to build a house for free for you and everyone else
@@SleepyBowtieCat-nd5rb land is available in our homeland. Go and buy it cheaper.all African countries does that but problem is you want freeb😅
Well it's MK which put SAA in this crisis.
Just another ANC scam that didn't get off the ground (pun intended).