South African Airways says it could cut more than 900 jobs as it undergoes restructuring in the face of severe financial losses
JOHANNESBURG, Nov 12 - South Africa’s struggling state-owned airline South African Airways could cut more than 900 jobs as it restructures to stem severe financial losses, the airline said in a statement.
The airline has not made an annual profit since 2011 and is grappling with severe funding difficulties and an inefficient and ageing fleet of airplanes. “We urgently need to address the ongoing loss-making position that has subsisted over the past years. That is why we are undergoing a restructuring,” said SAA acting-Chief Executive Zuks Ramasia.
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