Latest articles on Les Matuson

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SAA creditors get R9.3bn from government

Business Thando Maeko - 11 Sep 2020

The state-owned airline owes R16.4-billion to lenders and needs an additional R10.1-billion to fund the business rescue plan

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SAA needs R2.2bn to pay for voluntary severance packages

Business Thando Maeko - 10 Sep 2020

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

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SAA creditors give go-ahead on rescue plan

Business Thando Maeko - 14 Jul 2020

Unions and staff representatives have agreed to severance packages for about 2 700 employees who will lose their jobs.

SAA 2.0 hopes to start lean and grow from next year

Business Sabelo Skiti - 16 Jun 2020

Draft agreement document spells out that R1.5-billion will be needed to fund severance packages for 2 400 of the airline’s employees

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Sell assets or create a new airline? Tussle over SAA future intensifies

Business Sabelo Skiti - 21 May 2020

The department of public enterprises is concerned that the proposed sale of assets threatens its plans to engineer SAA 2.0

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Gordhan steps into SAA crisis, announces a stop to retrenchments

Article Sabelo Skiti - 25 Apr 2020

The minister is also expected to announce talks with unions towards a new airline after the shut-down of the cash-strapped national carrier

SAA rescuers give affected parties two options: Wind down or liquidate

Article Sabelo Skiti - 23 Apr 2020

As SAA subsidiaries declare hardship to staff, business-rescue practitioners urge them to sign agreements to save severance payouts

SAA business-rescue practitioners offer severance settlement agreement for all staff

Article Sabelo Skiti - 18 Apr 2020

Practitioners inform staff that the government’s rejection of R10-billion bailout last week almost guarantees that the prospect of rescue is now impossible

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SAA endgame arrives as Covid-19 hits airlines

Article Thando Maeko - 20 Mar 2020

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

SAA’s choice: Restructure and cut 2 200 jobs or liquidate and lose 4 700

Article Thando Maeko - 10 Mar 2020

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

Unions vow to push ‘battle for survival’ at SAA

Article Thando Maeko - 14 Feb 2020

The Labour Court dismisses an application by Numsa and Sacca to have planned job cuts at SAA scrapped

SAA cancels flights, moves ahead with restructuring

Article Thando Maeko - 6 Feb 2020

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

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National

Housing activists want probe into City of Cape Town ‘spying’

Lester Kiewit - 26 Sep 2020

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No ‘I’ in team – but there is an ‘EA’

Eyaaz Matwadia - 26 Sep 2020

With internet lag keeping them from global competition, local gamers have settled on a format for EA’s FIFA 2020 allows 11 people to play as a team. And the prize money in local leagues is growing. Eyaaz Matwadia boots up for the first instalment of Gaming Corner

Coronavirus

Q&A Sessions: Mari Stimie and opera’s next act

Cayleigh Bright - 26 Sep 2020

The producer spoke to Cayleigh Bright on the day the Cape Town Opera returned to rehearsals after almost six months of lockdown about the future-proof transcendence, resilience and relatability of opera

Press Releases

Special Reports

UNISA hosts its first TEDx event

[email protected] - 26 Sep 2020

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SA’s SEZs create decent jobs

special reports - 25 Sep 2020

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Special Reports

The new normal in tourism is business unusual

special reports - 25 Sep 2020

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Special Reports

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special reports - 25 Sep 2020

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Special Reports

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special reports - 25 Sep 2020

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Special Reports

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special reports - 23 Sep 2020

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SingularityU Online Summit to contribute to SME growth in 2020

special reports - 23 Sep 2020

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Special Reports

Policy priorities lie with urgent economic reforms

special reports - 23 Sep 2020

Professor Raymond Parsons believes that business and consumer sentiment in South Africa would both benefit from even lower borrowing costs