Today's Labour News

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saa thumb medium95 76Fin24 reports that South African Airways (SAA) acting chairperson Thandeka Mgoduso has confirmed that the National Union of Metalworkers of SA (Numsa) and the SA Cabin Crew Association (Sacca) issued the national carrier with a strike notice on Wednesday morning.  

SAA announced on Monday that it was embarking on a restructuring process that might affect 944 jobs (almost a fifth of its employees).  In response, Numsa and Sacca warned that their members were preparing for "the mother of all strikes at SAA".  Deon Fredericks, interim chief financial officer of SAA, told a media briefing on Tuesday that the strike would endanger the existence of SAA and could destroy every job at the state-owned airline.  Fredericks also advised that labour costs currently represented 24% of SAA's total cost.  On Wednesday, SAA briefed Parliament’s Standing Committee on Public Accounts (Scopa) on the reasons why it had failed to submit its 2018-19 annual report and financial statements.  The delegation said they were prevented from tabling the report as there were reservations as to whether the airline could be presented as a going concern.  Over the past 13 years, the carrier has incurred over R28bn in cumulative losses.

  • Read the full original of the report in the above regard by Khulekani Magubane at Fin24

Read too, 'Technically insolvent' SAA says it is at a precipice as strike looms, at Fin24


Get other news reports at the SA Labour News home page