While the airline is required to present its financials by the end of the month, it cannot do so as it’s technically bankrupt.
A report in The City Press on Sunday documents the massive financial problems of state-owned airline South African Airways (SAA).
According to the report, SAA’s debt is currently R15 billion more than its assets, and banks will no longer lend the airline any money.
SAA chief executive officer Vuyani Jarana presented a report to the company’s board last week, revealing that media report on financial disarray at the company may have understated the extent of the problem.
The report details how the company’s debt increased by R2 billion in just a year; how it is currently heading towards a R6 billion loss in the current financial year; and how the airlines monthly cost of between R350 million and R450 million massively exceed its revenue.
SAA Technical (Saat), a division of SAA that is Africa’s largest maintenance, repair and overhaul (MRO) company, is also allegedly losing around R560 million a year.
One executive told the publication that rather than problems with South Africa’s market, such as the rising fuel price, technical recession and weakening of the rand being to blame for SAA’s woes, the real problem is “fraud and theft.”
“Unfortunately, SAA has had acting people in most senior positions. The board was also fractured and there was a lot of instability. The problem here is not even the market, but within, with people stealing and committing fraud,” another executive said.
In March, it was reported that above its previous losses, SAA had made a further financial loss of R3.7 billion over the nine months to the end of 2017, as revenue dipped about R1 billion below its forecasts for that period.
The figures were tabled in a briefing by Jarana, chairman JB Magwaza and executives to parliament’s standing committee on finance. They predicted that the airline would stage a return to profitability in four years time as its turnaround strategy starts to reap fruit.
But for the current financial year the company is expected to show a loss of just less than R5 billion. It is expected to table these results in April after holding its annual general meeting on Thursday.
SAA saw a decline in passenger numbers in the period under review and dropped fares in response to increased competition. At the same time running costs rose, largely as a result of steeper fuel costs.
The airline has been a burden to the national purse for years, with then finance minister Malusi Gigaba dipping into the National Revenue Fund in September last year to give it a bailout of R3 billion to prevent it from defaulting on its debt obligations to Citibank. This followed a R2.2 billion bailout in June to enable it to cover its repayments to Standard Chartered.
In February, Gigaba – shortly before he was moved to the home affairs portfolio in a Cabinet reshuffle – said government remained committed to plans to recapitalise SAA to the tune of R13 billion.
Here are twenty tips from the Quran and Sunnah for dealing with the evil of the enemy of mankind, Shaytan (Satan).
ONE: One should not travel in a group of less than three. Allah’s Messenger (ﷺ) said, “One on his own is a shaytān, two travellers are two shaytāns and three people are a travelling party.”
TWO: Do not sit in partial shade and sunlight. Allah’s Messenger (ﷺ) forbade that a man should sit in partial shade and sunlight. He (ﷺ) forbade that one should sit straddling between sunlight (unshaded) and shaded areas, and he said: “It is the sitting place of shaytān.”
THREE: Do not walk in one shoe. Allah’s Messenger (ﷺ) said, “Indeed Shaytān walks in one shoe.” He also stated, “Let not any of you walk in one sandal, rather wear both together, or take both of them off.”
FOUR: Do not eat and drink with the left hand. Allah’s Messenger (ﷺ) said, “When one of you eats, let him do so with his right hand, and when he drinks, let him do so with his right hand, for indeed Shaytān eats with his left and drinks with his left.”
FIVE: Do not give and take with the left hand. The Messenger of Allah (ﷺ) said, “…for indeed Shaytān gives with the left and he takes with the left.”
SIX: Shaytān comes with a piece of stick or something else that he throws onto the bed, so do not become angry with your family. Allah’s Messenger (ﷺ) said, “Shaytān comes to the bed of some of you after his family has prepared it for him, and he throws a stick, a stone or something else onto it so as to make him angry with his family. So if someone finds that, let him not become angry with his family because it is from the deeds of Shaytān.”
SEVEN: One should not be in seclusion with an unrelated member of the opposite sex. Allah’s Messenger (ﷺ) said, “A man is not secluded alone with a woman (who is not permissible for him) except that Shaytān is the third.”
EIGHT: If you are riding a means of transport, isolate yourself on your journey with Allah and remembering Him. Allah’s Messenger (ﷺ) said, “There is not a rider who isolates himself during his journey with Allah and in His remembrance, except that an angel follows him, and he does not isolate himself with [blameworthy] poetry, or backbiting and tale-carrying except that Shaytān follows him.”
NINE: Try and withhold from yawning as much as possible. Allah’s Messenger (ﷺ) said, “When one of you yawns, he should try his best to stop it, for when one of you yawns, Shaytān laughs at him.” And in a narration, he said, “He should withhold his yawn with his hand because Shaytān enters therein.”
TEN: When mounting a camel, say bismillāh. Allah’s Messenger (ﷺ), “On the back of every camel there is a Shaytān. So when you mount it, say bismillāh, then you will not be prevented from your needs.”
ELEVEN: Do not speak about the private matters of your spouse. Allah’s Messenger (ﷺ) said, “Perhaps a man will speak about what happens between himself and his wife (of intimacy). Or perhaps a woman will speak about what happens between her and her husband. Do not do so! That is like a devil who meets a female devil on a road and he copulates with her whilst the people look on.”
TWELVE: Do not allow Shaytān come between the gaps whilst standing in congregational prayer. Allah’s Messenger (ﷺ) said, “Come close together in the rows for verily Shaytān stands in the gaps.”
THIRTEEN: Do not narrate your dreams except to one whom you love or a person of knowledge who can interpret dreams. Allah’s Messenger (ﷺ) said, “The righteous dreams are from Allah and the bad dreams are from Shaytān. So if anyone has a dream and he dislikes something from it, let him spit (lightly without expelling saliva) to his left side and seek refuge with Allah, for verily it will not harm him, and he should not narrate it to any person. If he has a good dream, then it is a glad-tiding and he should not tell anyone of it except one whom he loves.” He also said, “He should not tell anyone what he saw in his (good) dream except a beloved person or one who knows how to interpret it.”
FOURTEEN: Deliberate carefully over affairs, and beware of hastiness. Allah’s Messenger (ﷺ) stated, “Careful deliberation is from Allah, and haste is from Shaytān.”
FIFTEEN: One should not forget to remember Allah before eating. Allah’s Messenger (ﷺ) said, “Shaytān makes lawful for himself food on which Allah’s name (i.e. bismillāh) has not been mentioned.”
SIXTEEN: Keep your tongue moist with the remembrance of Allah and with seeking His forgiveness. Allah’s Messenger (ﷺ) said, “The Shaytān said: By your Might and Honour my Lord, I will not cease enticing your servants so long their souls are in their bodies. So the Lord said, ‘By my Might and Majesty, I will not cease forgiving them so long as they seek My forgiveness.”
SEVENTEEN: Guarding oneself against secretive speech. Allah, the Most High, said, “Secretive conversation is only from Shaytān that he may grieve those who have believed, but Shaytān will not harm them at all except by the permission of Allah. And let the believers rely upon Allah.” Allah’s Messenger (ﷺ) said, “When you are in a gathering of three people, then two of you should not engage in a private discussion to the exclusion of the third until you are in the company of a larger number of people otherwise that will bring him sadness.”
EIGHTEEN: Do not go to the marketplaces and shopping malls except for a need. Allah’s Messenger (ﷺ) said, “If you are able, do not be the first to enter the marketplaces and do not be the last to leave them, for verily the marketplace is the battleground of Shaytān and he plants his standard there.”
NINETEEN: Avoid unnecessary wastage of wealth and provision. Allah’s Messenger (ﷺ) said, “A sleeping place for a man, a sleeping place for his wife and the third for a guest. The fourth (therefore) is for Shaytān.”
TWENTY: Blowing one’s nose upon waking up from sleep. Allah’s Messenger (ﷺ) stated, “Whenever any of you wakes up from sleep, let him blow his nose three times for the Shaytān spends the night in his nostrils.” The Prophet used the term istinthār which means to expel water from the nose after istinshāq, and that is to draw water into the nose by sniffing it up so that it reaches the nostrils and the whole interior of the nasal cavity.
KZN police get pat on the back for quick Phoenix triple murder arrest
Parliament’s police portfolio committee has commended the KwaZulu-Natal South African Police Service (SAPS) detective team for arresting a suspect linked to the triple murder in which a mother and her two daughters were killed in their home in Phoenix, Durban on Friday.
Committee chairman Francois Beukman said on Sunday the quick response by the SAPS detective team and the subsequent arrest of a suspect confirmed there was no substitute for effective and professional detective work in solving murder cases.
The incident had put the alarming crime rate against women and children in the spotlight. “The turnaround time in the detective service’s performance in all nine provinces is of critical importance to ensure that perpetrators of crime against women and children are arrested and brought before the courts.
“Too many unsolved murder cases erode the confidence of the community in the police service, leading to vigilante conduct that undermines the criminal justice system in general,” he said.
An immediate response to murder incidents by detectives was essential, because delayed responses and investigations added to the complexity of cases. Investigative officers should also, on a regular basis, give feedback to the families of victims.
Beukman said the retention and promotion of experienced detectives by national and provincial police management was essential, and skills transfer to new recruits and up-to-date forensic training was key to the turnaround in the detective environment.
Gerhardus ‘Gert’ Johannes van Wyk (74) was visiting the park on the corner 10th Avenue and Hendrik Potgieter Street when he was abducted by a suspect on September 20, Alberton Record reports.
Bianca Jacobs, niece of Gert, shared the story of the events as relayed by van Wyk to her with the RECORD.
According to Jacobs, Gert was visiting the park as he frequently does with his dog. A man approached Gert and asked him for a cigarette, which he gave to him. Not suspecting any trouble, Gert returned to his car when the same man walked up behind him and pointed a gun at him.
The man demanded to know where the money is. Gert denied having any money and after the man searched the vehicle and patted Gert down he discovered his wallet on him. Angrily the man wanted to know why he hid it and forced Gert to hide behind his car so as not to let people driving past see what is going on.
The man produced a knife and placed it against Gert’s side and told him he wants to show him something. Fearing for his life, Gert went with the man down to the nearby stream where his hands were tied by the suspect. He proceeded to take him down river, past the BMW garage to the nearby bridge. There the suspect forced Gert onto his back and tied his feet and then his hands to his feet. He demanded the pin numbers of Gert’s bank cards which Gert gave him.
While all of this was going on Gert begged the suspect to take whatever he wants, but please do not kill him. The suspect left Gert under the bridge, taking his bank cards and cellphone with him, and vowed to kill him if the pin numbers did not work.
While this was going on Gert’s dog returned to the family home where immediately upon seeing the dog the family suspected trouble. The family went to the park and being unable to find Gert there, alerted the authorities.
Various security groups, as well as police, joined the search for Gert. Eventually, the police chopper joined the search. A man standing near the bridge, Mielis Mokoena, saw the chopper searching around the area, and heard screams coming from the bridge.
He ran to the screams and found Gert tied up. He used a broken bottle to cut the ties and free Gert, and then ran to alert a nearby EMPD officer of Gert’s whereabouts. Gert was rescued by their combined efforts and safely returned to his family.
Jacobs would like to thank all those involved with the search for her uncle, which includes the CPF, CPS Security, SAPS, EMPD and ER24. She especially wants to thank Mielis Mokoena for being the hero on the day and saving her uncle’s life.