Restructuring SAA could save millions


South Africa’s SAA’s restructuring plan will be finalised by March next year and should save 700 million rand ($47 million), the executive team of the ailing state airline told a media briefing.

“If you look at the 944 employees (who could lose their jobs), it’s estimated, depending on the process, it could save the company about 700 million rand. Our communications to labour and employees is to have this process finalised by the end of March next year,” said South African Airways’ Martin Kemp.

The company started consultations with its more than 5 000 staff and labour unions about cutting jobs to bring down its massive debt, including a 21.7 billion rand funding gap forcing government to repeatedly bail it out.