South Africa needs to raise more than 10 billion rand ($595 million) to revive SAA, according to a rescue plan compiled by administrators and backed by both the state and labor groups. It was forced to ground all commercial passenger flights in March when South Africa closed its borders to contain the pandemic. International travel remains banned from South Africa for leisure purposes, though domestic flights were recently given the green light as part of a wider economic reopening. SAA’s need for 10 billion rand includes 2.8 billion rand to get planes flying again and 2.2 billion rand for voluntary severance packages to cut the workforce to 1,000 employees from about 4,800. About 3 billion rand is needed for ticket refunds and 1.7 billion rand for plane-leasing companies.

Source: Ethiopian News September 03, 2020 11:37 UTC