South African Airways’ Choice: Managed Job Cuts, Liquidation
- Administrators say unions must agree to job cuts by Friday
- National airline has no funds to pay salaries next month
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South African Airways administrators delivered a stark choice to those opposing their plan to fire the entire workforce and sell assets: It’s either that or full liquidation.
The state-owned carrier neither has the funds to continue trading nor pay salaries beyond the end of this month, and the government has so far refused requests for financial assistance, the team led by Les Matuson and Siviwe Dongwana said in a Thursday letter addressed to “all affected persons.”