Today's Labour News

newsThis news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.

IataFin24 reports that according to the latest projections by the International Air Transport Association (Iata), the impact of the coronavirus pandemic on the SA airline industry could amount to 10.7 million fewer passengers transported and a loss of about R40 billion.  

Iata estimates that every job created in the aviation industry supports another 24 jobs in the wider economy.  So, the industry body believes 186,850 jobs could be at risk in SA, and the industry's contribution to the SA economy could plummet by about R68.4 billion.  According to Muhammad Albakri, Iata's vice president for Africa & Middle East, many governments in the region have committed to provide relief from the effect of Covid-19, but more help was needed.  Iata has called for a mixture of direct financial support, loans, loan guarantees and support for the corporate bond market and tax relief.  "Failure by governments to act now will make this crisis longer and more painful.  Airlines have demonstrated their value in economic and social development in Africa and governments need to prioritise them in rescue packages," the organisation indicated.

  • Read the full original of the report in the above regard by Carin Smith at Fin24


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