JOHANNESBURG, Nov 15 (Reuters) - Staff at South African Airways (SAA) downed instruments on Friday
JOHANNESBURG, Nov 15 (Reuters) – Staff at South African Airways (SAA) downed instruments on Friday in a strike over wages and job cuts that has pressured the troubled state-owned service to cancel all flights and left its future hanging within the steadiness.
SAA, which has not turned a revenue since 2011 and is and not using a everlasting CEO, says the strike by unions representing round 3,000 of its 5,000-strong workforce will value it 50 million rand ($3.36 million) per day and threatens its survival.
The unions rejected SAA’s wage provide late on Thursday, and are additionally hanging over the service’s plans to chop greater than 900 jobs in a bid to stem monetary losses and turn out to be viable with out the state bailouts it has relied on up to now.
SAA’s performing chief monetary officer, Deon Fredericks, advised the eNCA information channel that the airline, damage by previous mismanagement, couldn’t simply shut its eyes and keep it up.
“We’ll simply go deeper down,” he mentioned.
SAA is…