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/ 22 May 2008

SAA, pilots ink wage deal

South African Airways (SAA) and its pilots have reached a three-year salary and restructuring agreement, the airline announced on Thursday. The agreements would facilitate greater labour stability and assist the airline with its return to sustainable profitability, CEO Khaya Ngqula said.

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/ 13 May 2008

SAA: Oil, currency volatility a big challenge

State-owned South African Airways (SAA) said on Tuesday its restructuring plan was on track but rising oil prices and a volatile exchange rate posed big challenges. The airline said last year it was seeking to save R638-million in labour costs in a bid to return to profitability and could shed more than 2 000 jobs as part of a restructuring exercise.

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/ 8 November 2007

‘Today we are not closing SAA’

South African Airways (SAA) posted a net profit before tax and restructuring charges of R136-million for the six months ended September 2007, after a period of massive losses, acting chief financial officer Clive Else said on Thursday. Revenue rose to R11-billion from R9,6-billion, reflecting a 1,2% profit margin.

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/ 6 September 2007

Union opposes SAA restructuring plan

The South African Transport and Allied Workers’ Union on Wednesday vowed to counter a South African Airways (SAA) restructuring plan, saying management had lied to it and that ”the laws of the jungle shall now apply”. The union issued a statement after the airline’s chief executive, Khaya Ngqula, told media on Wednesday that it was essential to revise work packages.

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/ 5 September 2007

SAA talking to unions on restructuring

South African Airways (SAA) is finalising the standardisation of working conditions with trade unions in its ”deep and fundamental” restructuring process, chief executive Khaya Ngqula said on Wednesday. He also said the process of grounding SAA’s costly Boeing 747-400 fleet by November is on track.