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PROPHETIC UPDATE: GOD SAID 2013-SOUTH AFRICAN AIRWAYS

Isa. 59:19;’ When the enemy comes in like a flood,
The Spirit of the Lord will lift up a standard against him.” NKJV

During our time of prayer and waiting on God for His plans and purposes for the nation of South Africa in 2013 we received this word regarding SAA. For the complete word click the link below.

http://www.emmanuellife.org/prophetic-word-2013-1/index.html

“South African Airways (SAA)

There will be a lot of moving and shaking within the SAA airline. During 2013 there will also be talks of replacing SAA with another carrier.

SAA delays bonds, borrows R1.5bn to keep running

SOUTH African Airways (SAA) has postponed its bond issue in favour of borrowing the R1.5bn it needs from two banks, until after the airline’s turnaround plans have been adopted by the Cabinet, the group’s chief financial officer Wolf Meyer says.

The R1.5bn has been raised as working capital to keep operations running as the airline grapples with high fuel prices and its loss-making, long-haul business in a highly competitive market. SAA used a R5bn state guarantee extended to it last year to secure the loans.

“All the legal documents (for the loans) are being finalised and we are waiting for the minister’s final approval,” Mr Meyer said in an interview with Business Day last week. “The cash will be available today (Friday) or Monday.”

SAA was in “no hurry” to initiate the R1.5bn bond programme it had contemplated earlier this year. Bonds are a cheaper way to raise money than loans — particularly when they are underwritten by a state guarantee.

Task team hands over turnaround plan for SAA

THE much-anticipated turnaround strategy for the ailing South African Airways (SAA) has been completed and handed to Public Enterprises Minister Malusi Gigaba to review before being implemented as a matter of urgency, the department said on Tuesday.

The turnaround plan was a prerequisite for the Treasury to extend the two-year R5bn guarantee to the airline in October last year, which allowed the carrier to continue operating as a going concern.

Since 1991, the airline has received R11bn in financial support from the state.

SAA appoints new CEO

New CEO of SAA Monwabisi Kalawi

Public Enterprises Minister Malusi Gigaba announced the appointment of Monwabisi Kalawe as the new CEO of South African Airways. Mr Kalawe is expected to implement the airline’s latest turnaround strategy which is hoped will put SAA onto a path of profitability and end the continuous bail-outs.

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