Specialists appointed to try to save struggling South African Airways (SAA) on Monday said they plan to begin employee consultations on job cuts.
SAA entered a form of bankruptcy protection in December, with administrators Les Matuson and Siviwe Dongwana taking over management of the state-owned airline, which hasn’t made a profit since 2011.
“Our intention has always been to preserve as many jobs as possible through this process while still focusing on having a sustainable airline,” the practitioners Les Matuson and Siviwe Dongwana said in a joint statement as reported by CNBC.
SAA entered a form of bankruptcy protection in December, with administrators taking over management of the state-owned airline, which hasn’t made a profit since 2011.
SAA has received more than 20 billion rands (Ksh129.7 billion) in bailouts over the last three years and has 16.4 billion rand set aside over the next three years to service and repay the airline’s guaranteed debt.
