SAA eyes UIF R100bn surplus to fund inevitable job cuts | IOL Business Report

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SAA business rescue practitioners have approached the Unemployment Insurance Fund (UIF) to discuss the possibility of using the R100 billion surplus that the UIF controls to fund inevitable retrenchments at the troubled state-owned airline. busrep

JOHANNESBURG – SAA business rescue practitioners have approached the Unemployment Insurance Fund to discuss the possibility of using the R100 billion surplus that the UIF controls to fund inevitable retrenchments at the troubled state-owned airline.

On Wednesday, the rescuers were locked in meetings with the trade unions that represent SAA workforce to discuss the process. “There is just no way that the SAA workforce cannot be cut if we are serious about turning the airline around,” the insider said.

 

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busrep Jeso🙆🏽‍♀️

busrep Billions ayaayyayayay this smells a heist after heist hidden behind SAA rescue

busrep SAA wants to use the money to pay for the green contracts they signed with WMC business. Bayanya.

busrep Huh

busrep There you go, keeping the airline on life support till liquidation becomes inevitable. Stop playing politics. Get it over and done with!

busrep Another sign that this country is on the brink of economic collapse.

busrep This must be blocked that's the public's money ...............

busrep To fund retrenchments & those same people will then claim UIF as well. What a joke

busrep Well well, it seems that NUMSA negotiated a direct path to unemployment for its SAA members, including some unpaid leave for the duration of the strike. Nicely done!

busrep What did they do with the money from those huge loans in the first place ?, that's where the Hawks must come in.

busrep Unbelievable!!!!!🤬

busrep Haaa that's RET for ya. But then you get what you vote for. Zero

busrep

busrep Haaiibo!

busrep Hahahaha ya neh new dawn 😂

busrep Didn’t they receive R3.5 billion from the Development Bank just the other day 😂😂😂

busrep Hey, they must wait a minute. They must put together Capable people in all strategic positions so that they can bring that airline back on its feet then they can get the money. They must not entrenchment as a scape goat.

busrep Unemployment fund should be used for the unemployed..they contributed !

busrep State Pension Funds are next 💰💲 💵

busrep This must be rejected with contempt

busrep Verkoop die fckn SAA nou soek julle ander se geld om weer te steel

busrep Yho SAA is like a casino u gamble dololo winnings for u

busrep What I want to know is; has SAA paid back any of the previous loans? Im guessing probably not so how on earth is SAA going to pay back this money from UIF if it goes through?

busrep 🤣🤣🤣🤣🤣🤣🤣🤣

busrep These uneducated looters will not stop until they steal every possible cent that we have

busrep SAA must restructure quickly and sell a stake to Ethiopian Airlines to raise capital... We need bold decision makers... Why drag it when it's inevitable...

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 /  🏆 46. in ZA

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