News Formal

South African Airways, NTM union sign wage deal | IOL Business Report

  • 📰 IOL
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 51%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

The National Transport Movement on Friday signed a wage deal with struggling South African Airways. busrep

JOHANNESBURG -South African Airways signed a deal on Friday with a union not involved in a strike that has crippled the heavily indebted carrier, giving its members a 5.9% pay rise backdated to April.

The National Transport Movement is one of the largest unions at SAA but its members are not participating in a strike, now in its eighth day, that has left the airline with almost no cash and at risk of missing salary payments this month. The state-owned carrier’s swift decline has turned it into a black hole for government bailout money. The government has spent about 20 billion rand on SAA in the past three years.

 

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.

WATCH LIVE: EFF Media Briefing - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.[LIVE STREAM] EFF Media Briefing, 21 November 2019 – WATCH: sabcnews
Source: SABC News Online - 🏆 32. / 51 Read more »

WATCH LIVE: State Capture Inquiry - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.[LIVE STREAM] StateCaptureInquiry – 21 November 2019 | WATCH: sabcnews
Source: SABC News Online - 🏆 32. / 51 Read more »