*Hw #SAA ws collapsed?
*SAA tender Beneficiaries
*Privatization of SAA fr th benefit of WMC & their Black stooges
Former Eskom chairman, President Mbeki close friend & now PIC chairman, #RuelKhoza & his consortium bought 75% of Sun Air
*Th consortium went to liquidation
*th state failed to recover R14MLN owed to it
#StateCaptureInquiry
#DuduMyeni
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SAA made R6 BLN hedging loss, after #TrevorManuel approved SAA's request to commence hedging its fleet exposures.
#WakeUpBlackChild
#DuduMyeni
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In 2004,
SAA reported a loss of R8.77 BLN and a total trading loss of R15 BLN.
#WakeUpBlackChild
#HandsOffSOEs
#DuduMyeni
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#SAA chief, #AndreViljoen resigned folowing heavy loses SAA suffered in a R6 BLN hedging loss
Th loss ws revealed in SAA’s 2002/2003 financial results & saw th govt having to issue a R3.5BLN guarantee to lenders!
#DuduMyeni
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#StateCaptureInquiry
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Who r J&J Group & Macquarie shareholders?
👇
WMC(DA Funders),ANC veterans,SaveSA(#LootSA),SACP, #KetsoGordhan,..
#StateCaptureInquiry
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*17 forensic reports conducted
*EY report:"contract based on potentially corrupt relationship btw SAA & AAR"
*AAR's R1.6Bln ws signed by SAA & Treasury under Pravin Gordhan leadership
*"According to policy of SAA,th executive cannot approve anything tht is mor thn R100 Mln w/o agreement of Treasury
*"Decisions are not made within SAA:
*"Office in Miami,USA & Tresuary run SAA's operations"
*Only 2% of SAA's R24Bn Budget spent on Black owned companies
*"SAA is systematically looted"
#StayWoke
*The whole issue of Radical Economic Transformation is a joke!
*"We talk abt RET yt SAA is controlled by an office in America or Treasury"
*Who gets th contracts?
#WakeUpBlackChild
#StateCaptureInquiry
*SAA pilots r th SECOND MOST EXPENSIVE in th WORLD
*Pilots evergreen contracts: contracts continue even after SAA pilots r employed by other Airlines!
*Pilots decide whch routes to fly as per their convenience
*Anybody who challenges status quo must go
*Fuel suppliers r multi nationals based overseas
*Fuel is SAAs biggest variable cost
*Myeni brought Black fuel suppliers on board
#WakeUpBlackChild
#HandsOffSOEs
"Part of the things tht has set uncomfortable wit a lot of ppl is tht i said: out of R24bn,cant we give 30% to youth,women,military veterans & ppl wit disabilities"
Side note: SAA only spends 2% on Black owned companies
"SAA is a major cash cow fr companies tht hv been privileged in th past tht continue to milk th airline til tdy:
*SAA makes a lot of money
*gross level of corruption
*Inflated contracts
*contracts r extended,never renegotiated
*Jet fuel R10bn bill
*Good luck Mr Jarana
*Forensics reports
*Michelin tyre & tyre tender
*Head of procurement false report
#WakeUpBlackChild
#HandsOffSOEs
*Turnaround strategy is being systemically undermined
*Ways of working btw th executive,board & Pravin Gordhan hv made it difficult to operate wit required speed & agility
*Trust levels r very low
#StayWoke
👇
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