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Gov Refuse SAA More Bailout Funds

SAA has been in trouble for a long time and the tax payer has been asked to keep it in the air for many many years. Now with the Covid-19 pandemic, all airlines are in a world of hurt and many will simply not survive.

SAA is one of those who were in trouble before the crisis and thus stand the most likely to fail since they are not getting any revenue and the future for air travel will likely be suppressed for a long time to come. With the economic woes, travellers will be looking for cheaper options and SAA has never been cheap.

‘with the Covid-19 pandemic, all airlines are in a world of hurt’

This week SAA (the business rescue practitioners who have tried to save them) came with outstretched hand again to Government asking for R10 Billion and for the first time in ages were told no by Government.

It looks like it has taken a global pandemic and the largest economic crisis of the last 100 years to finally convince the politicians from throwing money into an onoging bad business just because it has the countries initials on it.

Learning to Say No

Saying no is tough. Especially if it is to friends or family. At a time like this they may come to you and ask for assistance. It is important to note that there are thousands of companies (credit providers) who specialise in offering credit. They are experts at that who make money off this process. You, as an individual, do not and are probably not equipped to handle the risks and the interruption to your cashflow. Some people even give money they need for their debt review to family or friends and then do not make their debt review payment (or fail to stick to their budget and cause problems in months ahead). This then can end up taking them out of debt review and costing their family and themselves their financial future. A single small loan to a family member can cost you your home, vehicle and possessions as well as your credit score and ability to take on certain types of work in the future.

‘Sometimes you have to learn to say: No’


Be cautious to just say yes without thinking about the risks and whether you can realistically afford it. Sometimes you have to learn to say: No.

Throwing Good Money After Bad

If you have analysed your situation and realised that your business or a venture you re involved in is not working then you need to make some hard choices right now. The months ahead are not going to be easy. They are likely to be the hardest you have had to date economically. Prepare now to deal with that and anticipate that things will not quickly return to normal.

‘you may even need to look at ending an unprofitable aspect of your business’

In some cases, you may even need to look at ending an unprofitable aspect of your business (like some retailers who are now reducing their product lines to only the profitable ones that the majority of clients actually use. The sooner you make these decisions (and they have probably been rolling around the back of your mind for some time now) the better. Don’t throw good money that you are desperately going to need after bad.