Retrenchments loom at SAA

South African Airways has informed its more than 5,000 employees that it's restructuring.

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.

READ: SAA fails to hand in annual report on time

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