The Public Enterprises Department is concerned about the South African Airways Pilots’ Association accepting the voluntary severance packages on offer but attaching additional demands.
The department said that the pilots wanted benefits that were far too costly and were not in the best interest of SAA, its employees, creditors and stakeholders.
The pilots’ association is proposing that a larger number of employees be retained and mentions pilots in particular.
The department’s deputy DG Melachton Makobe: “The proposals by the pilots are very much unsustainable and the department does not believe that the proposal is in the best interests of SAA and its employees. The department has informed the pilots that their proposal cannot be accepted.”
A creditors meeting has been scheduled for Tuesday, during which a vote will be carried out to decide on the business rescue plan.
More Stories
Is ChatGPT the death knell for investment banks?
Tough Times Ahead As South Africans Face Financial Crises
How South Africans Can Save Electricity, Money And The Planet
Inospace Calls On The Government To Offer Financial Relief To Thousands Of Small Businesses Affected By Rolling Blackouts
Latest Rate Hike Will Add To The Bite, But Property Outlook Remains Stable – Seeff
Traditional Banks Missing Opportunities To Compete With Newcomers
Are Inflation-Beating Returns On The Horizon For Money Market Investors In 2023?
Smart Energy Approach Can Save Businesses Millions
Few SA households Have Enough Income Protection – Momentum Life Insurance.
5 Ways Financial Leaders Can Bring Us Closer To Net-Zero
Removing Trade Barriers In The Developing World
Binance Charity To Provide Free Web3 Training To Women In Rural Communities Across SA, And Globally