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Due to SAA business rescue and pandemic toll on operations. 00:01
Not enough aircraft to keep SAA Technical busy. Image: Supplied
State-owned aircraft maintenance company SAA Technical (SAAT) has suffered a steep decline in its monthly revenue as the South African Airways (SAA) business rescue combined with the Covid-19 pandemic led to a drastic reduction in passenger numbers.
In March 2021, SAATâs revenue was down 83% to R43 million compared to the same period last year when the company recorded around R246 million in revenue.
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SAA Technical is one of the subsidiaries of SAA and not in business rescue.
However, employees have not received their full salaries for the past 11 months.
It is as yet uncertain if some of the money provided to SAA will be allowed to filter through to SAAT.
While the Department of Public Enterprises (DPE) keenly awaits the completion of the implementation of the business rescue plan of South African Airways (SAA), employees of its subsidiary, SAA Technical (SAA) are still in the dark about their future, it seems.
Unlike SAA, its subsidiaries are not in business rescue and therefore fall outside the scope of the business rescue practitioners.
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