SAA will not be paying staff salaries on time | IOL Business Report

  • 📰 IOL
  • ⏱ Reading Time:
  • 10 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 51%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

SAA is running out of cash because of the week-long strike over wages and job cuts.

JOHANNESBURG - Acting CEO of strike-hit South African Airways , Zuks Ramasia has stated that the state-owned airline will not be able to pay some staff salaries on time for the month of November. Ramasia said in a statement that the airline would not be able to fulfill salary payments to employees on the scheduled date.

Ramasia said that SAA could not achieve the above mentioned conditions because of the current negative sentiment which surrounds the airline currently, as well as operational challenges.

 

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

 /  🏆 46. in CA

Canada Canada Latest News, Canada Canada Headlines

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

Solidarity brings business rescue application to SAA | IOL Business ReportSolidarity has revived its plans against the South African Airways (SAA) by announcing that it is bringing an application to place the cash-strapped airline into business rescue. busrep
Source: IOL - 🏆 46. / 51 Read more »

SAA turbulence may just sink the state-owned airline's liquidity | IOL Business ReportSA Airways chairperson of the board implementation committee Martin Kingston warned that the embattled airline’s liquidity was on the brink of collapse. busrep
Source: IOL - 🏆 46. / 51 Read more »

Pravin Gordhan says there’s no money for SAA wage demand | IOL Business ReportPublic Enterprises Minister Pravin Gordhan has washed his hands of strike-ridden SAA, telling the national carrier and unions that the government could not afford the unions’ wage demand, as it had no additional funding. busrep
Source: IOL - 🏆 46. / 51 Read more »

Reserve Bank likely to keep interest rates steady for consumers' benefit | IOL Business ReportLow inflation is set to benefit consumers this festive season as the South African Reserve Bank looks set to leave interest rates unchanged at its final meeting for the year. busrep
Source: IOL - 🏆 46. / 51 Read more »

AG says new accounting measure caught R2.81bn in irregular expenditure | IOL Business ReportR2.2bn was incurred by Prasa, confirming the reported losses the agency suffered as a result of irregularities in its purchase of new locomotives.
Source: IOL - 🏆 46. / 51 Read more »

VPN or Virtual Private Networks: What businesses need to know | IOL Business ReportThe advantages of VPNs include simplicity of construction, the ability to connect multiple users across the globe and the security of data transfer.
Source: IOL - 🏆 46. / 51 Read more »