SA Airways (SAA) has secured R3.5bn in funding from the Development Bank of Southern Africa. “Discussions held with financial institutions have been fruitful,” joint SAA business rescue practitioners Les Matuson and Siviwe Dongwana said in a statement on Tuesday. The business rescue practitioners, supported by the departments of public enterprises and National Treasury, obtained the..
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Embattled National Carrier gets R3.5bn lifeline from Development Bank
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Warning! SAA Strike will intensify – Talks between National carrier and striking unions collapse
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JOHANNESBURG – Talks between South African Airways (SAA) management and striking workers have collapsed. Union leaders briefed the media and workers after the parties met on Saturday in an attempt to resolve the strike which began on Friday. Workers are demanding an 8%wage increase while SAA is offering 5.9%. According to the National Union for..
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‘Mother of all strikes’ ready to paralyze SAA as union hints at ‘total shutdown’ if national carrier cuts a fifth of staff
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Numsa and Sacca already have a strike certificate as they accuse management of threatening them with retrenchments and call for the SAA board to be scrapped. As if their financial dire straits and the plan that they would have to retrench about 900 people were not enough, the national carrier South African Airways (SAA) is..
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All aboard the money flight – SAA executive consultants paid R16 million salaries
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Embattled national carrier, South African Airways (SAA), has admitted to paying R16 million in executive consultancy fees. This includes R10 million for three personnel working on a six-month contract. Problems keep boarding SAA on a flight destined for collapse. This year alone, the airline received over R15 billion in government bail-outs. It’s been argued that..
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Cash-strapped SAA go on spending spree to address skills shortage
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Embattled national carrier, South African Airways (SAA) has dug deep into its purse in a means to address a “severe” skills shortage. As the Mail & Guardian reports, the airline has splurged millions appointing executives and commissioning foreign consulting firm, shortly after it received its latest bailout amounting to R5 million. According to the publication,..
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