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Denel announced on Thursday that it has paid R318 million in outstanding salaries after two years. The funds were raised from the surplus of a medical aid benefit trust for employees. The company now has in the region of R600 million for operational capital.
Denel has informed employees that their tax certificates are not ready and has also failed to comply with a court order to pay salaries.
Solidarity today expressed its dissatisfaction with the airline Mango’s business rescue plan, which was only accepted today. According to this plan, South African Airways (SAA) will withdraw from Mango and sell 100% of its shares. Solidarity argues that state interference and the implementation of poor business decisions made Mango into another victim on the long list of failed state institutions. Solidarity further argued that the situation would have looked quite different if Mango's former ...
SAA cutting jobs in plane maintenance division By Loni Prinsloo (Bloomberg) – South African Airways’ plane-maintenance division is cutting jobs to help navigate the crisis that’s gripped the air-travel industry throughout the coronavirus pandemic. The restructuring is unavoidable in light of reduced demand from its airline customers, SAA Technical said in a statement. While the state-owned company didn’t specify how many employees would be affected, Derek Mans, a representative of the Solidarity union, said about 60% of a total workforce of just over 2,000 could be eliminated. The mov...
MONEYWEB app instead? To help navigate the crisis thatâs gripped the air-travel industry throughout the coronavirus pandemic. By Loni Prinsloo, Bloomberg 29 Apr 2021 14:05 Image: Shutterstock South African Airwaysâ plane-maintenance division is cutting jobs to help navigate the crisis thatâs gripped the air-travel industry throughout the coronavirus pandemic. The restructuring is unavoidable in light of reduced demand from its airline customers, SAA Technical said in a statement. While the state-owned company didnât specify how many employees would be affected, Der...