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  • 14

South African Airways in Limbo as State Considers Bailout

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South African Airways said it’s waiting for the government to tell it whether it will provide the national carrier with the money needed to keep flying, rendering it unable to publish its results for the year through March. “SAA cannot finalize its annual financial statements within the prescribed time until the going concern status is confirmed,” the carrier said in a document submitted to lawmakers on Monday and circulated by the main opposition Democratic Alliance. To do this SAA would… (www.yahoo.com) More...

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sgbelverta
sharon bias 1
See note above on Alitalia airlines problems. One of the problems Alitalia is ignoring is that they're over staffed. When Sabena went bankrupt in 2001, it was the first state run airline in the EU to fail. Others have followed. A private airline has no problem letting people go. A state run airline doesn't have that luxury. Rather than lay off 1000-2000 employee's, 5,000 jobs may be lost. See article on Alitalia above.

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