JOHANNESBURG, Nov 12 (Reuters) - South Africa's struggling state-owned airline South African Airway
JOHANNESBURG, Nov 12 (Reuters) – South Africa’s struggling state-owned airline South African Airways (SAA) may minimize greater than 900 jobs because it restructures to stem extreme monetary losses, the airline mentioned in a press release.
SAA mentioned it had began consultations with its greater than 5,000 employees and was speaking to labour unions.
The airline has not made an annual revenue since 2011 and is grappling with extreme funding difficulties and an inefficient and ageing fleet of airplanes.
South African officers have been trying to find an investor to take a stake within the airline, however their efforts have up to now been unsuccessful.
“We urgently want to handle the continued loss-making place that has subsisted over the previous years. That’s the reason we’re present process a restructuring,” mentioned SAA acting-Chief Government Zuks Ramasia.
“No last choice shall be taken till the session course of is concluded. Nonetheless, it’s estimated that roughly 944…