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Latest articles on Les Matuson

SAA funds may need a top-up

Business -
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’
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SAA to receive R10.5-billion government bailout after all

Business -
Several struggling state-owned entities received extra funds after the medium term budget policy speech
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SAA in talks to recoup R350-million in blocked funds from Zimbabwe

Business -
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
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SAA creditors get R9.3bn from government

Business -
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 -
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 -
Unions and staff representatives have agreed to severance packages for about 2 700 employees who will lose their jobs.
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SAA 2.0 hopes to start lean and grow from next year

Business -
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 -
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 -
The minister is also expected to announce talks with unions towards a new airline after the shut-down of the cash-strapped national carrier
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SAA rescuers give affected parties two options: Wind down or liquidate

Article -
As SAA subsidiaries declare hardship to staff, business-rescue practitioners urge them to sign agreements to save severance payouts
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SAA business-rescue practitioners offer severance settlement agreement for all staff

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

Article -
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
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Unions vow to push ‘battle for survival’ at SAA

Article -
The Labour Court dismisses an application by Numsa and Sacca to have planned job cuts at SAA scrapped
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SAA cancels flights, moves ahead with restructuring

Article -
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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Latest

Covid-overflow hospital in ruins as SIU investigates

khaya koko
A high-level probe has begun into hundreds of millions of rand spent by the Gauteng health department to refurbish a hospital that is now seven months behind schedule – and lying empty

Pay-TV inquiry probes the Multichoice monopoly

Sarah Smit
Africa’s largest subscription television operator says it is under threat amid the emerging popularity of global platforms like Netflix and Amazon Prime

​No apology or comfort as another Marikana mother dies without justice

Niren Tolsi
Nomawethu Ma’Bhengu Sompeta, whose funeral will be held this weekend, was unequivocal in calling out the government for its response to the Marikana massacre

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