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BL Premium reports that SA Airways (SAA) plans to resume flying in July or August, though this is dependent on the Covid-19 pandemic and on resolving its dispute with striking pilots.
SAA ceased flying in March 2020. It emerged from business rescue in April after 16 months, during which time it was restructured. The business rescue process cost R231m. On Friday, interim CEO Thomas Kgokolo, along with interim chair Geoff Qhena, appeared before parliament’s appropriations committee, which is processing a bill that will allow R2.7bn of the R10.5bn that was allocated to SAA in October 2020’s medium-term budget policy statement to go instead to its subsidiaries. SAA Technical (SAAT), Airchefs and Mango are all in dire straits after the R2.7bn, which had been expected in January, was held up in parliamentary processes. SAAT has been unable to pay staff and has now begun a retrenchment process and Mango was grounded after it was unable to pay fees to the SA Civil Aviation Authority. The parliamentary processes are expected to be concluded by mid-June. Qhena said in addition to resolving the dispute with pilots, which centred on retrenchment pay, SAA also needed to attract a strategic equity partner before it could fly again. Negotiations with an investment partner will apparently be concluded within the next month.
Read the full original of the report in the above regard by Carol Paton at BusinessLive (paywall access only)
- See too, SAA aims to resume flights in July or August, at Moneyweb
Get other news reports at the SA Labour News home page