RETRENCHMENTS LOOM AT SAA

RETRENCHMENTS LOOM AT SAA

JOHANNESBURG – South African Airways (SAA) has informed its more than 5,000 employees that it’s restructuring.

It is estimated that about 944 staff will be affected.

The national carrier has had its fair share of financial turbulence.

But in the mid-term budget, Finance Minister Tito Mboweni announced that the state would pay off the airline’s R9.2-billion debt over the next three years.

The airline has incurred over R28-billion in cumulative losses over the past 13 years.

Source
eNCA

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Nigerians in South Africa
Nigerians in South Africa 2497 posts

We are about democracy, human rights, public opinion, political behavior, civil rights and policy aimed at improving the human condition, with a focus on African countries.

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