South African Airways (SAA) has informed its more than 5,000 employees that it’s restructuring. It is estimated that about 944 staff will be affected – nearly 20% of the workforce.
The national carrier has had its fair share of financial turbulence.
But in the mid-term budget, Finance Minister Tito Mboweni announced that the state would pay off the airline’s R9.2-billion debt over the next three years.
The airline has incurred over R28-billion in cumulative losses over the past 13 years.