The minister addresses the future of the country’s state-owned entities and speculation they may be moved from his portfolio
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Industry experts predict the R10.5-billion from the treasury to rescue the airline may not be enough, but the rescue practitioners say the money is enough to ‘settle the sins of the past’
Several struggling state-owned entities received extra funds after the medium term budget policy speech
The cash-strapped national carrier is in the process of recouping its blocked funds from Zimbabwe, which could go towards financing the airline’s business rescue plan
The state-owned airline owes R16.4-billion to lenders and needs an additional R10.1-billion to fund the business rescue plan
More than 3 000 employees out of 5 000 have accepted the packages. The state-owned airline, which went into business rescue, is likely to retain 1 000 workers
Unions and staff representatives have agreed to severance packages for about 2 700 employees who will lose their jobs.
Draft agreement document spells out that R1.5-billion will be needed to fund severance packages for 2 400 of the airline’s employees
The department of public enterprises is concerned that the proposed sale of assets threatens its plans to engineer SAA 2.0
The minister is also expected to announce talks with unions towards a new airline after the shut-down of the cash-strapped national carrier
As SAA subsidiaries declare hardship to staff, business-rescue practitioners urge them to sign agreements to save severance payouts
Practitioners inform staff that the government’s rejection of R10-billion bailout last week almost guarantees that the prospect of rescue is now impossible
With the disease hitting the airline industry hard, SAA has told employees it will run out of money by March 31. Workers must either lose their jobs or move to part-time jobs, it says
The business rescue practitioners say 29 of the fleet of 48 planes, various routes and inefficient services also need to go in the state-owned airline is to survive
The Labour Court dismisses an application by Numsa and Sacca to have planned job cuts at SAA scrapped
The struggling national carrier’s business rescue practitioners say the move to restructure the airline is a bid to return to profitability and to attract equity partners