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SAA’s business rescuers issue notice that most staff will need to be retrenched

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The practitioners have advised that the airline is fast running out of money and options.

In a letter to all affected parties on Thursday, SAA’s business rescue practitioners , Les Matuson and Siviwe Dongwana advised that almost all the airline’s employees face imminent retrenchment – or possibly worse if they don’t agree to it.

Employees’ service would be terminated in a wind-down process of the airline with severance packages being agreed on with staff. They said that an appeal to government to fund retrenchment packages had thus far been unsuccessful and that employees and their unions had only until Friday to agree on a collective agreement that was proposed on 17 April.

 

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SO BEGINS THE SALE OF SAA FOR R1

What's happening at SAA?! Year in and year out, this SOE needs funding.

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