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A far deeper question is: Why was my 2018 July warning and advice so arrogantly ignored? At least over R1.5bn could have been saved. Read Fit for Purpose

SA Express must go into business rescue, court rules

fin24.com/Economy/South-…?

shared via @Fin24
My advice was not sucked from the air. I warned in Feb 2018 that SAX would be grounded by CAA within four months. It happened!! I advised that it should be absorbed into SAA. I even prepared an execution plan. Ignored!!. It was revived against my advice.
More money, >R1.5bn was pumped into it. Gone. SAX has been a serial loss maker for years with John hope of recovery. Yet SA Airlink, in which we have a very small stake and operating similar routes, keeps pumping dividends effortlessly. 🙆‍♂️🙆‍♂️🤦‍♂️🤦‍♂️
This is cognitive dissonance at its worst. But it was driven by baseless and irrational political considerations. @palilj01 called this self inflicted tragedies. What will our future generation say? That's why you have to read Fit for Purpose.
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Thabang Motsohi
@MotsohiThabang
If you have time go through this. By the time Jarana was brought on board, critical points of attention were much refined with strict timelines. What was crucial was the shareholder unwavering commitment to mandatory obligations. pmg.org.za/committee-meet…
These were mainly:
1. Ensure that funds are available immediately
2. Decision making was critical for execution and that must remain with the CRO and the GCEO
3. SAA would be exempted from Treasury/DPE prescribed hurdles to ensure smooth and timely execution
SHAREHOLDER FAILED TO DELIVER ON ALL MANDATORY COMMITMENTS.
It was therefore pointless for Jarana to stay.
Crisis was now on an oily and slippery slope. What you are witnessing now was unavoidable.
The BRP was hurried and NOT well thought through
Read 6 tweets
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Thabang Motsohi
@MotsohiThabang
I can say with full confidence that what is unfolding at SAA as announced on Thursday is an irreversible death knell for SAA. The BRP is now coverting to a burial undertaking.
There's no clear strategy and objective. And the shareholder is
confused and pursuing irrational policy options. Somebody should intervene at the highest level.
Unfortunately, Alvarez & Marsal know very little about airlines. The lead partner on the engagement, Paul Gilbert, has never led an airline restructuring project before. I mean never ever.
Read 5 tweets
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Thabang Motsohi
@MotsohiThabang
This cut back is exactly what Jarana scheduled to do. But the shareholder held him back. It has now become acceptable under the BRP. Black talent was

SAA to scrap all domestic routes apart from Joburg, Cape Town

fin24.com/Companies/Indu…?

shared via @Fin24
frustrated and blatantly ignored and jettisoned. Inexcusable. This is fact and it must be stated without fudging. Jarana made it very clear in his letter of resignation. @BMFNational
I refuse that we should accept such buffoonery. Bain charged Treasury a massive fee for something that I developed in one and half days while advising Jarana. No brainer. But we trust global brands.Yet solutions are developed by SAns who don't get recognized
Read 3 tweets

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