Les Matuson

/ 29 May 2021

Gordhan on SAA, political interference and moving SOEs out of his department

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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By Sarah Smit

Business

/ 27 November 2020

SAA funds may need a top-up

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’

By Tshegofatso Mathe

Business

/ 28 October 2020

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

Several struggling state-owned entities received extra funds after the medium term budget policy speech

By Thando Maeko

Business

/ 21 October 2020

SAA in talks to recoup R350-million in blocked funds from Zimbabwe

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

By Thando Maeko

Business

/ 11 September 2020

SAA creditors get R9.3bn from government

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

By Thando Maeko

Business

/ 10 September 2020

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

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

By Thando Maeko

Business

/ 14 July 2020

SAA creditors give go-ahead on rescue plan

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

By Thando Maeko

Business

/ 16 June 2020

SAA 2.0 hopes to start lean and grow from next year

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

By Sabelo Skiti

Business

/ 21 May 2020

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

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

By Sabelo Skiti

Article

/ 25 April 2020

Gordhan steps into SAA crisis, announces a stop to retrenchments

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

By Sabelo Skiti

Article

/ 23 April 2020

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

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

By Sabelo Skiti

Article

/ 18 April 2020

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

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

By Sabelo Skiti

Article

/ 20 March 2020

SAA endgame arrives as Covid-19 hits airlines

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

By Thando Maeko

Article

/ 10 March 2020

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

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

By Thando Maeko

Article

/ 14 February 2020

Unions vow to push ‘battle for survival’ at SAA

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

By Thando Maeko

Article

/ 6 February 2020

SAA cancels flights, moves ahead with restructuring

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

By Thando Maeko

Gordhan on SAA, political interference and moving SOEs out of his department

Join the M&G Community

SAA funds may need a top-up

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

SAA in talks to recoup R350-million in blocked funds from Zimbabwe

SAA creditors get R9.3bn from government

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

SAA creditors give go-ahead on rescue plan

SAA 2.0 hopes to start lean and grow from next year

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

Gordhan steps into SAA crisis, announces a stop to retrenchments

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

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

SAA endgame arrives as Covid-19 hits airlines

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

Unions vow to push ‘battle for survival’ at SAA

SAA cancels flights, moves ahead with restructuring

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