Some seven months after it entered business rescue, a vote on the airline’s future is at long last expected take place on Tuesday.
Stakeholders will vote to accept or reject the amended business rescue plan drawn by up business rescue practitioners Siviwe Dongwana and Les Matuson, which includes the retention of only 1 000 jobs, as well as offers of voluntary severance packages to staff to reduce the airline’s wage bill.ALSO READ:“Should creditors vote not to support the business rescue plan, SAA would face liquidation,” said the DPE, which would mean far lower severance package payouts to staff.
The higher number of staff would be offset, somewhat, by increased cuts in salaries under Saapa’s proposal.
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