Tuesday, 9 June 2020

More delays to the SAA rescue plan

The rescue plan of the embattled South African Airways (SAA) was halted yet again on Monday, this time because the unions are unhappy with what's on the table.

A spokesperson said creditors had given a one-week delay in the publication of the rescue plan to June 15. The extension was given after the NUMSA, SACCA and SAAPA unions objected to the plan being published on Monday pending further talks with the government on a draft version of the plan.

This is the last chance for the airline, which has not made a profit for nine years and has been plagued over recent years with poor management, corruption, staff apathy and underfunding. This latest rescue deal has been pushed back many times after various factions have squabbled over what future the airline will have. 

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