Imonti From , joined Dec 1969, posts, RR: Posted (10 years 1 month 1 week 5 days 18 hours ago) and read 2122 times:
SAA have finally "fixed" their website, they have changed the format and t is quite cool. Very very nice in fact, yet as always they havnt updated any data or info. According to the website they still have 742 in their fleet.
I wish some one would do something about it. Oh no wait who am I trying to kid, I cant as they are techinacally insolvent and have no money, oh no wrong again the South Africna tax payer can yet again bail them out to the tune of $1.3 billion, ( is the latest amount they need). Truly Wonderful.
ZSSNC From Germany, joined Feb 2003, 428 posts, RR: 8
Reply 3, posted (10 years 1 month 1 week 2 days 17 hours ago) and read 1933 times:
with all due respect. SAA posted an operating profit the last financial year, something most airlines have failed at. SAA, however, still suffers and will suffer in 2005 (the year, in which the hedge book will finally be closed in their balance sheets) from the hedging issue with respect to the purchase of the new Airbus fleet. I find it unfair to what extent SAA is criticized in South Africa at the moment. SAA's employees don't deserve it, as they helped SAA to make an operating profit. The people responsible for the currency speculation (and the hedging was nothing short of that) have gone now. Yes, SAA posted an enormous loss this year. But it was not an operating loss. I would rather see airlines with a smaller overall loss but an operating loss disappear from the scene than an airline like SAA who worked profitably.
Airbus A340-600 - the longest temptation in the sky
Imonti From , joined Dec 1969, posts, RR:
Reply 4, posted (10 years 1 month 1 week 2 days 17 hours ago) and read 1909 times:
If you honestly believe SAA made a profit regardless of their hedge book then you need help. If you can believe the figures Transnet pump put out then god help us. There is no way they will tell the truth and to what extent, the simple fact is they lost money, weather it be by hedging or operational losses. I dont see any of the managers that bought that hedge book putting their personal assets into a hedge.