Today's Labour News

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saa thumb medium95 76BusinessLive reports that with South African Airways (SAA) having run out of cash and being effectively bankrupt, it is feared it may not be able to pay salaries.  

According to a cash-flow analysis provided by the airline to MPs on Wednesday, the state-owned airline went into a negative cash position in July when it had a net cash outflow of R568m.  It projects a further deterioration in the months ahead with net cash outflows of R936m forecast for August and R918m in September.  A relative improvement to a negative cash flow of R134m is projected for October on the assumption that the airline gets financing and government support of R792m.

  • Read this report by Linda Ensor and Sunita Menon at BusinessLive

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