South African Airways has cancelled international flights between Johannesburg and Munich along with a range of local flights between Johannesburg and Cape Town and Johannesburg and Durban.
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The financial crisis at South African Airways deepened on Tuesday with one of the nation’s largest travel agencies announcing that the airline had cancelled several domestic and international flights.
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The Ramaphosa administration is accelerating the sale of government assets to fund its cash-strapped airline and other distressed state-owned companies.
The ANC’s top decision makers have met to discuss how to deal with ailing state-owned companies whose deteriorating finances have emboldened critics of President Cyril Ramaphosa.
As the SAA business rescue demonstrates, we will not hesitate to do what it takes to return our SOEs to financial and operational health. By Cyril Ramaphosa.
Government will relinquish control of the loss-making national airline and give it an additional bailout in a bid to stave off liquidation.
Vodacom Group on Thursday rubbished a report suggesting its CEO, Shameel Joosub, will soon leave the helm of the telecommunications operator to take on a new role as CEO of Vodafone Africa.
South African Airways has cancelled nearly all its flights scheduled for Friday, 15 November and Saturday, 16 November.
The Post Office is cutting several hundred jobs, the second state-owned company in as many days to detail plans to lay off workers as the government looks to slash its wage bill.