South Africa’s national airline needs 13 billion rand to prevent crisis

-


Photo credits: SA Airlines
 
South Africa’s state-owned airliner says it will face a liquidity crisis if it does not receive a 13 billion rand (976 million dollars) cash injection from the Treasury to meet its debt obligations and cover operating costs, it said on Friday.

South African Airways (SAA) said in a financial plan presented to parliament that its modelling showed it was not generating enough cash.

However, it said that it would turn a profit by 2019 on an EBITDA basis.
The airline also said debt maturities had been negotiated and extended to the end of September this year.

Comments

Post a Comment

Popular posts from this blog

Chromium,it's health benefits

-
Image
  Photo by Alex Munsell on Unsplash Today, we will be discussion a juicy topic in which most folks might be wondering of what importance it is. Chromium is present in most of our diets that we consume on a daily, but it’s unknown to most of us. I discovered it’s a relevant mineral necessary for human. Seat back as we unfold/breakdown it’s importance. Chromium is a mineral our bodies use in small amounts for normal for normal body functions, such as digestion of food. It can also be described as a type of chemical element that’s actually a hard and brittle metal. Health Benefits of Chromium -           Chromium plays an important role in the insulin-signaling pathways that allows our body to control the amount of sugar we take in. -           It helps to balance blood glucose levels and giving us stable energy. Diabetes control, heart health, weight management and brain ...
Read more

StartZone partners bramo digi on social good summit

-
Image
StartZone, an Innovation Hub focused on solving Africa’s biggest challenges by supporting the digital ecosystem partnered with Bramo digi to host the Social Good Summit. The Social Good Summit examines the impact of technology and new media on social good initiatives around the world. It is held annually during the United Nations General Assembly (UNGA) Week. The Social Good Summit unites a dynamic community of global leaders and grassroot activists to discuss solutions for the greatest challenges of our time. At this session, entrepreneurs and social innovators discussed how social media and (new) technologies can be used to achieve the Sustainable Development Goals. The event had over one hundred delegates comprising of entrepreneurs, technology experts and enthusiasts and was held at the mini conference hall of the Zone centre in Gbagada, Lagos. Victoria Ibiwoye an advocate of Global Citizenship Education (GCED) and the regional focal point of the United Nations Major Group on C...
Read more

Chinese man arrested over US cyber attacks

-
Image
  Photo credits: REUTERS  A Chinese man has been arrested in the US for allegedly selling malware used to hack into American companies. US authorities claim in court papers that Yu Pingan bought and sold malicious software including the rarely used Sakula program. That malware has been implicated in the 2014 hack attack on the US federal Office of Personnel Management (OPM). Information on a huge number of US workers employed in sensitive or secret work was stolen in that data breach. Software bugs Mr Yu was arrested earlier this week soon after he disembarked from a flight that landed at Los Angeles international airport. He has been charged with breaching computer networks owned by several US firms. Legal papers filed to support the arrest do not explicitly mention the OPM as one of the targets of the suspected attacks. Instead, they claim Mr Yu was a key member of a gang that carried out hack attacks on US firms between 2011 and 2014. The hackers are all...
Read more

Nokia Aim to Integrate CEM Technology For MTN Nigeria

-
Image
Phot credits: AFP Nokia  has confirmed it will integrate its Customer Experience Management (CEM) software at MTN Nigeria. Naveed Kashif, Nokia’s Account Leader for MTN Group, said, “MTN recognises the growing importance of customer experience management as it seeks to differentiate itself and provide the best possible services to subscribers.” In its quarterly update for the period ended 30 September 2017, MTN recorded a drop in the number of subscribers in markets including South Africa, Uganda, Nigeria and Cameroon, as well as an overall decrease of 0.7%. The telco also announced organic revenue increases in key markets in Africa. MTN Nigeria reported an 11,2% increase in total revenue supported by data revenue growth of 72,1%, but conceded that digital revenue growth has been negatively impacted by the ongoing optimisation of VAS services. According to Nokia’s statement, MTN Nigeria is the first service provider in the region to deploy Nokia Cognitive Analytics for Custom...
Read more

Etihad, Alibaba, Ant partner on customer experience

-
Image
AFP PHOTO / Andreas SOLARO Etihad Aviation Group (EAG), Alibaba Group Holding Limited, and Ant Financial Services Group (ANT Group) have signed a Memorandum of Understanding (MoU), to expand their partnership and deliver superior products and services to Chinese customers. The group plans to expand cooperation through greater collaboration on respective loyalty programmes. In addition, new products and services will be introduced to deliver an improved guest experience and improved logistics. Under the agreement, Alibaba and Etihad Guest, the award-winning loyalty programme of Etihad Airways, will explore enhanced programme benefits and opportunities for cross-acquisition of loyalty points. This will include points’ conversion to Etihad Guest Miles, reciprocal benefits across premium tiers, and the ability to redeem Etihad Guest Miles for Alibaba products. In addition, Alibaba Group and Etihad Airways will enter into a brand partnership agreement that will integrate the Alibaba G...
Read more

Thomas Cook relaunch flights to Tunisia - two years after beach terror attack

-
Image
Photo credits: GETTY IMAGES Photo credits: GETTY IMAGES Photo credits: GETTY IMAGES  Tunisia has suffered from a huge shrink in tourism since the 2015 beach terror attack which claimed the lives of thirty British holidaymakers. Flight and holiday packages to the north African destination were then suspended due to the incidence, with the Foreign and Commonwealth Office (FCO) advising only essential travel to the region. However, Thomas Cook is one of the first providers to reintroduce flights to Tunisia, two years after the attack took place. It is hoped that British tourists will once again travel to the once popular destination. Thomas Cook is to restart the flights on February 13 and have gone on sale today. It is also to offer hotel accommodation near to Hammamet, a beach town in the region. It comes just one month after the government declared the destination as ‘safe’ for British travellers. Whilst the destination is still under threat from terrorist attacks, the...
Read more

Simple Ways To Prepare Nkwobi

-
Image
Nkwobi is a sweet and amazing delicacy everyone should have a taste of especially tourists. It's one of Nigerian's best and tasty cuisine. Steps below could be of help while preparing it for the first time. Ingredients    (1).  500g cow leg    (2).  1 tbsp potash    (3).  1/2 cup palm oil    (4).  1 tsp calabash nutmeg (ehu seeds)    (5).  1 onion    (6).  Seasoning cubes    (7).  Salt, to taste    (8).  Utazi leaves, to garnish    (9).  Ugba    (10).  2 tbsp crayfish    (11).  Habanero peppers (optional) Method     (1). Cut the cow leg into chunks and boil until tender. Season with salt, stock cubes and pepper.     (2). Dissolve potash in some water then leave it to settle for a few minutes. Pour out the top part of the potash water.     (3). In a pot, mix the palm oil ...
Read more

Switzerland landslide: some scientists are now warning

-
Image
Photo credits: AFP Photo credits: REUTERS  A massive rockslide in Switzerland's Val Bondasca was not a complete surprise. Many parts of Switzerland, two thirds of which is mountainous, are at risk of avalanches and landslides. Communities in the Alps have been protecting themselves against such natural hazards for years. Before Wednesday's landslide, sensors on the Piz Cenaglo, high above the Bondasca valley, had already shown that the rock mass was moving. That warning triggered the automatic closure of some sections of road. The village of Bondo had a narrow escape. The four million cubic metres (141m cubic feet) of mud and rock which thundered down the mountain ended up just centimetres from people's homes. That wasn't just luck. Bondo has a concrete barrier to protect it from the full force of a landslide, and the river bed in the Bondasca Valley has been widened in the hope of channelling landslides away from populated areas. But the size of Wednesday'...
Read more

Hurricane Harvey bears down on Texas

-
Image
Photo credits: Joe Raedle/Getty Images/AFP   Hundreds of thousands of people in Texas and Louisiana were urged Friday to flee the path of Hurricane Harvey as the Gulf Coast braced for the most dangerous storm to hit the US mainland in over a decade. Roaring towards land with winds whipping up to 110 miles (175 kilometers) an hour, the category two hurricane is predicted to smash into coastal Texas late Friday or early Saturday as a much more powerful category three storm, forecast to dump up to 35 inches (89 centimeters) of rain. Harvey is on course to make landfall as the strongest storm since the devastating Katrina 12 years ago, triggering “catastrophic” floods in an area that processes some seven million barrels of oil a day — in what could prove a major new test for President Donald Trump’s administration. Several Texas counties ordered mandatory evacuation from coastal areas. Those residents not under mandatory orders were also urged to leave immediately, or bu...
Read more

Glitter iPhone cases recalled over chemical burn risk

-
Image
Smartphone case maker MixBin says it is recalling several versions of its liquid glitter iPhone cases because users face the risk of skin irritation or chemical burns. According to the Consumer Product Safety Commission , the recall impacts more than 263,000 cases sold in the U.S. for the iPhone 6, 6S and 7. The cases were sold directly by MixBin and through third-party retailers including Amazon, Nordstrom Rack and Victoria's Secret. MixBin says if the case breaks and the liquid comes in contact with the user's skin, it can cause irritations and even chemical burn. CPSC says there have been 24 reports of injuries tied to the cases, including one consumer who said they were permanently scarred from a chemical burn. MixBin is offering refunds to affected case owners, which can be requested through a special recall website. Users must provide a picture of the case when they register for the refund.
Read more