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Unions Accept Govt Proposal on SAA Payout - Fiscal Risks Rise

SOUTH AFRICA
  • SAA most likely having to pay a full eight months of employee salaries
  • Comes after unions rejected an offer for three months salary
  • Adds further pressure to it and Govt's fiscal position
  • SAA's new costs likely to be in the ZAR 5.5bn-6bn range
  • vs the three month agreement estimates at ZAR 2.2bn
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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