Today's Labour News

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saa thumb medium95 76BusinessLive reports that the SA Transport and Allied Workers’ Union (Satawu) on Friday hit out at finance minister Tito Mboweni for suggesting that the loss-making state-owned airline SAA should be closed down.  

Mboweni had been speaking at an event with investors in New York on Thursday and said:  “[It] is loss-making, it’s unlikely to sort out the situation, in my view we should close it down…  It is unlikely that you are going to find any private-sector equity partner who will come join this asset.”  SAA has recorded losses for about a decade and has run up a massive debt.  It needs recapitalisation of close to R22bn over the next three years to turn it around.  Satawu, one of the major unions at SAA, described Mboweni’s statements as “irresponsible”.  The union pointed out that closing down the airline would leave 8,000 people jobless and, with five people dependent on each of the 8,000 salaries, “then we’ll have ourselves an unmitigated disaster.  “Turning SAA around is a mammoth task and will not happen overnight.  In the meantime, all we ask is for the minister of finance to restrain himself,” said Satawu spokesperson Zanele Sabela.

  • Read the full original of this report by Bekezela Phakathi at BusinessLive
  • Read Satawu’s press statement in this regard at Polity


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