SAA after Business rescue

[rainier]

If they can pay 15 million for these 2 statues of Winnie the Pooh and Oliver who can't twist then you get to see that there is no comprehension of the value of money

https://opera.news/za/en/culture/amp/ec ... 31bf196411

Are you serious ? Looks like a failed kindergarten playdoh project

In some countries both your statements would result in your untimely disappearance.
So yes, SA not too bad a place to be. There are worse...

[7675]

SAA seeks up to seven A320's. one A330

https://aviationweek.com/air-transport/ ... il-25-2022

[African Flyer]

SAA seeks up to seven A320's. one A330

https://aviationweek.com/air-transport/ ... il-25-2022

With what money ?

[MsPirot]

SAA seeks up to seven A320's. one A330

https://aviationweek.com/air-transport/ ... il-25-2022

With what money ?

On what lease terms? - no Lessor is going to be in rush to do SAA business again.

[evanb]

On what lease terms? - no Lessor is going to be in rush to do SAA business again.

Castlelake, Goshawk and Seraph. They're already leasing aircraft to SAA and took haircuts during business rescue, quite similar to most aircraft lessors with many other customers. Aircraft lessors have experienced a crazy two years and the SAA situation was not out of the ordinary. In fact, all aircraft they wanted back they got back with little difficulty or fanfare and all came back in good shape. This has not been the case for many lessors with other airlines where they had to repossess and sometimes found aircraft in a state of disrepair or without records, etc. These latter factors are far more costly or worrying for a lessor and have even resulted in writing off of some frames. As strange as it sounds, SAA are not on any particularly <<moderated - language>> list with lessors. Depending on the aircraft age, they're also not likely to get terrible terms although they might have to provide slightly more advanced payments.

[jbayfan]

The tender seems to be targeting the aircraft SAA returned during business rescue. The lessors don’t have much to lose by taking a chance with SAA V2 but not sure how they will get around the NIPP issue. Even if SAA only survives another year or two it’s better than having the aircraft decaying in storage. With SAA’s current cash burn rate it’s only a matter of time before their doors close permanently.

[evanb]

The tender seems to be targeting the aircraft SAA returned during business rescue. The lessors don’t have much to lose by taking a chance with SAA V2 but not sure how they will get around the NIPP issue. Even if SAA only survives another year or two it’s better than having the aircraft decaying in storage. With SAA’s current cash burn rate it’s only a matter of time before their doors close permanently.

Possibly, the four A330-300s have all found new homes though, however, most of the A320s are sitting idle. From a lessors perspective, there is nothing worse than an aircraft sitting idle.

[30foursouth]

https://www.news24.com/fin24/companies/ ... l-20220428

[Airwayfreak]

https://www.news24.com/fin24/companies/ ... l-20220428

And yet another gazillion rand golden handshake for an approved ANC cadre

[cx45338]

https://www.news24.com/fin24/companies/ ... l-20220428

If my memory serves me correct, John Lamola was at Denel Aviation some time in the late 90’s early 2000.

[Burner]

https://www.news24.com/fin24/companies/ ... l-20220428

If my memory serves me correct, John Lamola was at Denel Aviation some time in the late 90’s early 2000.

He was also on the ACSA board for a number of years, but resigned when it was reported in the media that he was allegedly appointed to the board at the request of the Guptas. According to Linkedin, he has a PHD in Philosophy from Edinburgh University, and an MBA from Embry-Riddle in the US. From an academic stand point, at least he's not just a former primary school teacher.

[GL]

https://www.news24.com/fin24/companies/ ... l-20220428

If my memory serves me correct, John Lamola was at Denel Aviation some time in the late 90’s early 2000.

He was also on the ACSA board for a number of years, but resigned when it was reported in the media that he was allegedly appointed to the board at the request of the Guptas. According to Linkedin, he has a PHD in Philosophy from Edinburgh University, and an MBA from Embry-Riddle in the US. From an academic stand point, at least he's not just a former primary school teacher.

Johannesburg (28 April 2022) – SAA’s Interim CEO Thomas Kgokolo is to leave the airline at the end of April 2022 after a successful year at the helm, and John Lamola will assume the role of the Executive Chairman and Chief Executive Officer with effect from 1st May 2022.

Professor Lamola was appointed non-executive chairman of the SAA Interim Board in July 2021. He is an Associate Professor at the Institute for Intelligent Systems of the University of Johannesburg. In addition to a PhD degree in Philosophy from the University of Edinburgh, he holds an MBA from a premier tertiary institution of education in aviation and aerospace studies in the United States, Embry-Riddle Aeronautical University. He was the CEO of Denel Aviation between 1996 and 2001. He served on the Board of Airports Company South Africa (ACSA) from 2012 until 2017. Lamola has managed a proprietary portfolio of private equity investments through a number of privately held companies, including an aviation consulting firm, Baji Aviation Service.

Lamola added that the business strategy of SAA remains intact and on course as the Board and the Ministry of Public Enterprises are steadfastly pursing their goal of a sustainable SAA for the good of the entire South African economy.

[flypiper]

Hi GL ,

Do you think Lamola is gona make any difference ?

[GL]

Hi GL ,

Do you think Lamola is gona make any difference ?

Never met the man - but his qualifications are solid. Still he has a worrying lack of hands on airline experience. He would never have been appointed as an airline CEO in the real world. And he is tainted by Denel and esp ACSA - which has been mismanaged as a well.

[117]

A quick google search on Baji Aviation Service reveals.... nothing.

I wonder what they actually consulted on?