Unfunded SAA to pay 50% of salaries

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 63%

South Africa Headlines News

Employees at troubled airline SA will receive half of their November salaries as well as 13th cheques on Wednesday

Employees at troubled state airline SAA will be paid 50% of their November salary and 13th cheque on Wednesday, the company said in a notice.“As at the issuing of this communication, the necessary funding to enable SAA to pay salaries has not been finalised. However, SAA understands that employees have to fulfil their financial commitments. In the interim, our cash position has improved so we can pay the salaries as indicated,” said the notice.

But to continue operations, the airline needs to raise at least R2bn from commercial banks for which it requires a full loan guarantee from the government. This has not been forthcoming. SAA has not had a permanent CEO since June when Vuyani Jarana resigned or a permanent board chair since July. Zuks Ramasia has been acting CEO since Jarana’s departure.


Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

And a 13th cheque nogal!

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Unfunded SAA to pay 50% of salariesEmployees at troubled airline SA will receive half of their November salaries as well as 13th cheques on Wednesday The triumphant unions is going to love that...
Source: BDliveSA - 🏆 12. / 63 Read more »

Cabinet ministers face off about whether SAA lives or diesThe urgent meetings, which involve Tito Mboweni and Pravin Gordhan, must consider whether or not to extend a guarantee ThinkFoYourself Beink of what. Blerry click bait to pay Let it fail
Source: BDliveSA - 🏆 12. / 63 Read more »

Opposition MPs want SAA placed under business rescueSeveral opposition parties have called on the national government to place SAA on business rescue on Tuesday.
Source: eNCA - 🏆 49. / 51 Read more »

Gordhan announces an executive chairperson for crisis-hit SAA | Business | M&G
Source: mailandguardian - 🏆 2. / 92 Read more »

SAA dragged into fight as Dudu Myeni accuses former lawyers of dishonesty | IOL NewsFormer SAA board chairperson Dudu Myeni is staging a fierce fight back as she takes on OUTA’s bid to declare her a delinquent director.
Source: IOL - 🏆 46. / 51 Read more »

'Sell SAA or shut it down': Opposition urges government to take action | IOL NewsPolitical opposition parties said government could not delay any longer on finding an equity partner for SAA, as MPs debated the latest crisis at the national carrier in the National Assembly.
Source: IOL - 🏆 46. / 51 Read more »