Posts tagged with 'national carrier'

 

Embattled National Carrier gets R3.5bn lifeline from Development Bank

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SA Airways (SAA) has secured R3.5bn in funding from the Development Bank of Southern Africa.

“Discussions held with financial institutions have been fruitful,” joint SAA business rescue practitioners Les Matuson and Siviwe Dongwana said in a statement on Tuesday.

The business rescue practitioners, supported by the departments of public enterprises and National Treasury, obtained the funding needed to meet the short term liquidity requirements of the airline.

“Discussions held with financial institutions have been fruitful, with the DBSA offering to provide the next tranche of funding, for a total amount of R3.5bn, with an immediate drawdown of R2bn.

“Furthermore, funding for the restructuring phase after the [business rescue] plan is adopted is being considered by potential funders,” read the statement.

“The advancement of the funds comes on the back of the business rescue process which began on 5 December 2019, wit
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Warning! SAA Strike will intensify – Talks between National carrier and striking unions collapse

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JOHANNESBURG – Talks between South African Airways (SAA) management and striking workers have collapsed.

Union leaders briefed the media and workers after the parties met on Saturday in an attempt to resolve the strike which began on Friday.

Workers are demanding an 8%wage increase while SAA is offering 5.9%.

According to the National Union for Metalworkers of South Africa’s (Numsa) Phakamile Hlubi-Majola, unions and the national carrier have failed to find each other.

Numsa and the South African Cabin Crew Association (Sacca) have warned they will intensify the strike across all SAA departments.

“If you have workers at the Civil Aviation Authority on strike, it means that none of the planes are going to fly. It’s not just SAA, its all planes”, said Hlubi-Majola.

The struggling state owned airline says its working around the clock to introduce additional capacity on the domestic network.

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‘Mother of all strikes’ ready to paralyze SAA as union hints at ‘total shutdown’ if national carrier cuts a fifth of staff

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Numsa and Sacca already have a strike certificate as they accuse management of threatening them with retrenchments and call for the SAA board to be scrapped.

As if their financial dire straits and the plan that they would have to retrench about 900 people were not enough, the national carrier South African Airways (SAA) is also facing the threat of a strike, which would see its entire fleet of planes grounded. The National Union of Metalworkers of South Africa (Numsa) and the South African Cabin Crew Association (Sacca) yesterday released a joint statement in which they condemned SAA for informing workers of its intention to restructure and retrench workers through a media statement.

On Monday, acting CEO Zuks Ramasia said: “It is difficult to estimate the number of employees who may eventually be impacted. No final decision will be taken until the consultation process is concluded. However, it is estimated that approximately 944 employees may be aff
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