Huge SAA flight cancellations

Gaz{M} said:
They would need to accept a large reduction in pay and benefits if they did leave. SAA pilots are very well compensated. I have first hand information.
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This may be true for the more experience guys, but for juniors I don't think SAA is up there as an employer of choice. As an example, a mate of mine's lightweight qualified in the last year and accepted one of 3 offers he got from "international airlines". SAA wasn't even on the radar
 
So anyone know that happens next? From what I read the administrator/rescue practitioner/whatever has to give an assesment within a week or twoof whether SAA can be turned around. Anyone know when this is expected?

Side note, I'm watching Carte Blanche's piece on SAA

"Long before we went on the strike, we were informed by the executive management of SAA that there was no money for salaries in November and December"[/quote]

But they still wanted a raise?
 
koffiejunkie said:
So anyone know that happens next? From what I read the administrator/rescue practitioner/whatever has to give an assesment within a week or twoof whether SAA can be turned around. Anyone know when this is expected?

Side note, I'm watching Carte Blanche's piece on SAA

"Long before we went on the strike, we were informed by the executive management of SAA that there was no money for salaries in November and December"

But they still wanted a raise?
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In theory, unions get their mandate from workers but in reality, it's the unions that initiate it.
 
Sure, but regardless, if they knew there wasn't any money, what's the rationale behind picking this time to demand a raise? I mentioned earlier in the thread that she was on Bruce Witfield's show and said they had taken SAA to court before to try to force them to do things like implement forensic accounting, etc. So let's be charitable and assume they were trying to force some outcome. If it was just to oppose the restructuring, why add an ureasonable wage increase demand?
 
Black partners in SAA business rescue to be announced soon - Mthembu

https://www.fin24.com/Companies/Ind...-rescue-to-be-announced-soon-mthembu-20191217

ANC govt said:
Minister in the Presidency Jackson Mthembu told reporters on Tuesday morning that Cabinet was confident in the business rescue processes announced at South African Airways, and that equity partners in the business rescue would be announced soon.

Mthembu was briefing reporters in Pretoria on the outcomes of last week's Cabinet meeting. The Cabinet meeting followed the national flag carrier being placed into business rescue in early December, following a bruising strike and amid difficulty meeting its financial obligations.

Les Matuson was appointed the national carrier's business rescue practitioner.

Mthembu said on Tuesday that Cabinet expressed confidence that the intervention would re-position the flag carrier to become a stronger, more competitive entity, which would win back confidence from investors and its passengers.


"Cabinet welcomed the appointment of the business rescue practitioner Les Matuson from Matuson Associates. He will work with the black partners that will be announced in due course," said Mthembu.
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Minister in the Presidency Jackson Mthembu told reporters on Tuesday morning that Cabinet was confident in the business rescue processes announced at South African Airways, and that equity partners in the business rescue would be announced soon.
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Why do you need equity partners in a business rescue transaction? Doesn't that defeat the purpose of the process? Or are they planting moles to report on the process to certain people in the governing party? Are we about to witness factional battles of the ANC play out at Eskom?

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ForceFate said:
Why do you need equity partners in a business rescue transaction? Doesn't that defeat the purpose of the process? Or are they planting moles to report on the process to certain people in the governing party? Are we about to witness factional battles of the ANC play out at SAA?
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Ah, now that explains it: These are the ones that are more equal than others, né?
 
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