SAA suspends all operations with immediate effect
South African Airways (SAA) Business Rescue Practitioners (BRPs) announced the suspension of its operations with immediate effect as they try to secure funding for the airline.
The embattled airline has been facing a financial crisis that began back in December last year when they sought bankruptcy protection.
National Union of Metalworkers of South Africa (Numsa) National Spokesperson Phakamile Hlubi-Majola raised concerns on The Midday Report, questioning as to where SAA will get the money to maintain and pay its workers as they have been constantly breaking their promises towards their employers.
The most crucial question that need to be asked at this point and it’s a question only the treasury and DPE can answer is where is the funding for the business rescue plan for SAA.Phakamile Hlubi-Majola, National Spokesperson - National Union of Metalworkers of South Africa (NUMSA)
We have been assured and promised by the BRPs at the creditors meeting that took place the last time that this money would be made available and today it’s still not been made available.Phakamile Hlubi-Majola, National Spokesperson - National Union of Metalworkers of South Africa (NUMSA)
It is quite disgraceful that neither Treasury nor DPE still have not answered that question this leaves workers and their families and their lives in the balance. They are the ones who are paying the highest price whilst politicians who are paid extremely generous salaries and packages which are funded by us, by the very same members who can’t afford to pay rent, pay their bills or feed their children.Phakamile Hlubi-Majola, National Spokesperson - National Union of Metalworkers of South Africa (NUMSA)
Founding partner of BHK Crisis Communications Linden Birns agreed with Majola statements that people’s livelihoods will be affected by the suspension of the airline operation and that the airline may struggle to get investors in the future.
They are going to have to invest a lot of money in reassuring the travelling public as well as their creditors and their business suppliers who have done work with SAA in the past.Linden Birns, Founding partner - BHK Crisis Communications
I think the airline can forget getting discounts or extended terms of credit from a lot of people.Linden Birns, Founding partner - BHK Crisis Communications
Listen below for the full interview...
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