The fate of South African Airways (SAA) hangs in the balance as government is yet to respond to SAA Business Rescue Practitioners deadline on where funding for the airline will come from.
The National Union of Metal Workers and the Cabin Crew Association have announced they will be picketing outside SAA headquarters on Friday to demand funding be made available.
The unions say Treasury and the department of Public Enterprises should explain where funding for voluntary severance packages will come from.
SAA is in danger of liquidation as a creditors meeting is also set for Friday morning.
SAA’s fate is discussed in the video below:
NUMSA Spokesperson Phakamile Hlubi- Majola says: “Government is a shareholder of this airline and it has a duty to protect this airline and save jobs, (as) they have promised.”
“The Business Rescue Process was taken voluntarily and treasury gave its assurance that funding will be made available for the process. It is a disgrace we are at the end of this process and there is no money for VSP’s and also no money to fund the business rescue plan which means that SAA is in danger of liquidation.”
Government says it is considering several proposals from potential strategic equity partners as it continues to try and source the R15 billion funding needed to save SAA.
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