SAA has found itself in a spot of bother yet again. Anyone surprised? This time round it's had to borrow R1,5 billion just to keep the airline operating. Government, in the mean time, has been mulling over whether or not to accept its proposed turnaround strategy - purely perfunctory, if you ask me, or Chris Moerdyk for that matter.
In fact, Moerdyk is pretty certain that, if history is anything to go by, cabinet will accept the turnaround plan and, using our tax money, SAA will pay back the hefty loan. He blames SAA's perpetual cash flow hurdles on "spectacular mismanagement and incessant bungling... and plain lousy marketing."
But wait! There's more than one financially irresponsible parastatal in this aviation family. SA Express is also knocking on government's door asking for a bail-out. The domestic and regional carrier is experiencing serious cash flow issues after its equity fell far below the required R1 billion. Like a naive parent, government will probably once again have to come to the rescue.
After all that, believe it or not, there are a few things to be cheerful about: the world loves visiting South Africa for one - there's been a 10.2% increase in tourist figures since 2011; brace yourselves Top Gear fanatics, because you're getting not just Clarkson and May at the Top Gear Festival, but Richard "The Hamster" Hammond as well! And your last reason to turn that frown upside down: after winning the chance to participate in the 2013 Virgin London Marathon, Soweto's Khubulani Zondo picked up a Silver medal.
Well done, Khubulani, and thank you for proudly flying the South African flag.
