South African Airways (SAA) have announced that they will cut the airline’s whole staff from the payroll
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Gugu Mfuphi talks to Guy Leitch, Editor Of Sa Flyer Magazine About Consultants in charge of rescuing South African Airways (SAA) have announced that they will cut the airline’s whole staff from the payroll, following growing pressure from a variety of factors. 4,700 of the staff will be offered a severance package.
The airline’s operations are being managed by business rescue practitioners (BRP) Les Matuson and Siviwe Dongwana. Matuson is a restructuring and turnaround specialist who runs advisory firm Matuson & Associates, while Dongwana is a former Deloitte partner who is now the Founder & Managing Director of accounting firm Adamantem.
Last month, the pair requested more time from the government to administer the turnaround at SAA, given that Covid-19 restrictions are blocking any new revenue streams that might have helped matters along. Earlier this month, the government’s Department of Public Enterprises (DPE) announced that it would not longer offer financial support to SAA.
The airline’s operations are being managed by business rescue practitioners (BRP) Les Matuson and Siviwe Dongwana. Matuson is a restructuring and turnaround specialist who runs advisory firm Matuson & Associates, while Dongwana is a former Deloitte partner who is now the Founder & Managing Director of accounting firm Adamantem.
Last month, the pair requested more time from the government to administer the turnaround at SAA, given that Covid-19 restrictions are blocking any new revenue streams that might have helped matters along. Earlier this month, the government’s Department of Public Enterprises (DPE) announced that it would not longer offer financial support to SAA.
