SAA administrators propose restructuring plan that will cost govt R10bn
They also expected voluntary severance agreements to be reached with staff and hope to retain one thousand jobs under new conditions of employment.
JOHANNESBURG - Administrators at state-owned South African Airways (SAA) have proposed a restructuring plan for the cash-strapped airline and said that government would have to find more than R10 billion for it to work.
They also expect voluntary severance agreements to be reached with staff and hope to retain 1,000 jobs under new conditions of employment.
The administrators took over SAA in December when the airline entered a local form of bankruptcy protection after almost a decade of financial losses.
Government said that it would assess the plan.