JOHANNESBURG - South African Airways Business Rescue Practitioners have tabled a proposal to terminate the entire workforce of SAA.
Unions, as well as non-unionised employees, have until 24 April to accept the agreement.
It comes just days after government denied an additional R10-billion in funding for the airline.
The business rescue practitioners say the airline can’t be turned around without more money.
eNCA has seen the proposal which states that SAA's assets will first have to be sold.
The value of the assets will determine if and when workers get their packages.
Cabinet has directed Public Enterprises Minister Pravin Gordhan to prepare an updated report on SAA after his department denied the bailout.
For now, the airline continues to charter flights to and from South Africa, as well as bringing in essential cargo.
eNCA's Heidi Giokos has the details in the video above.