South African Airways (SAA) is running out of cash and could be liquidated if th...
JOHANNESBURG - South African Airways is running out of cash and could be liquidated if the government doesn’t give it additional guarantees soon, a board member said on Wednesday, as trade unions threatened to escalate a crippling strike.
The National Union of Metalworkers of South Africa and South African Cabin Crew Association called a strike at SAA last week after wage talks turned acrimonious and the airline said it planned to cut almost 20% of its staff. “We may not have enough cash to pay salaries at the end of the month, we are still investigating how we can do that,” he said. “This is a real-time discussion we are having with National Treasury and the Department of Public Enterprises. We need help imminently.”
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