Solidarity wants SAA to be put under business rescue - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

Solidarity, which mostly represents white, Afrikaans-speaking employees, said it would “mean that the court can appoint a business rescue practitioner with comprehensive powers to rescue the airline.”

A crippling six-day strike in the past week has pushed South African Airways to the brink of financial collapse. Such a rescue would hand over control to a business rescue practitioner who then tries to restore the company in order to avoid liquidation. Meanwhile, SAA has said it would suspend all flights between Johannesburg and Hong Kong from Saturday up to and including December 14 to curb significant financial losses on the route.

SAA, which is running out of cash because of the week-long strike over wages and job cuts, said the losses had been exacerbated by political tensions in Hong Kong.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

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

Africa vulnerable to climate change - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.%Africa remains the most vulnerable continent when it comes to climate change.%
Source: SABC News Online - 🏆 32. / 51 Read more »

Business Maverick: South Africa Inflation Rate Drops to Almost Nine-Year LowSouth Africa’s annual inflation rate dropped more than forecast to the lowest in almost nine years in October, providing some room for the central bank to ease policy.
Source: dailymaverick - 🏆 3. / 84 Read more »