About: http://data.cimple.eu/news-article/8c9a80aa4a3616a8af2c8d7f9da4781f0c8b0403d15b33c19782e324

Facets (new session)
Description
Metadata
Settings
- owl:sameAs
- Inference Rule:

About: http://data.cimple.eu/news-article/8c9a80aa4a3616a8af2c8d7f9da4781f0c8b0403d15b33c19782e324 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

Attributes	Values
rdf:type	schema:NewsArticle
schema:articleBody	Creditors of South Africa's flag carrier SAA approved Tuesday a restructuring plan for the cash-strapped airline in a deal that will cost some 2,700 jobs, the government said. Loss-making South African Airways (SAA), one of the continent's largest airlines, was placed under a state-approved rescue plan in December in an effort to save it from collapse. It is to be replaced by a new and competitive airline after years of mismanagement and debt. At least 2,700 of its roughly 5,000 workers will be laid off. "At a meeting convened by the business rescue practitioners (BRPs) for SAA, 86% of creditors voted to support a business rescue plan for the airline," said the Department of Public Enterprises in a statement. The government said it believed that the decision was "a much better outcome for creditors and SAA employees than liquidation". "The department hopes that a new SAA can reclaim market share while fighting to compete more in the emerging market space - notwithstanding the impact of the COVID-19 pandemic that will constrain the aviation industry for some time into the future," it said. The government says the plan will cost some 10 billion rand (about US$600 million) although the opposition Democratic Alliance, which is fiercely opposed to the plan claimed "taxpayers will now have to fork out another 16.6 billion rand to fund this vanity project". Of its total workforce, 1,000 will be retained and another 1,000 furloughed. SAA is Africa's second-largest airline after Ethiopian Airlines. It has a fleet of more than 50 aircraft flying to domestic and international destinations. Like most South African state-owned enterprises, it has failed to make a profit for more than a decade and survived on government bailouts. sn/jh
schema:headline	Creditors approve S.Africa's SAA rescue deal as 2,700 jobs shed
schema:mentions	Democratic Republican Alliance South African rand South African Airways Ethiopian Airlines USA Gymnastics Africa South Africa Pandemic Coronavirus disease 2019 Largest airlines in the world Insolvency Flag carrier Emerging market
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-07-14 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	71 (xsd:integer)

Faceted Search & Find service v1.16.115 as of Oct 09 2023

Alternative Linked Data Documents: ODE Content Formats:

RDF

ODATA

Microdata

About

OpenLink Virtuoso version 07.20.3238 as of Jul 16 2024, on Linux (x86_64-pc-linux-musl), Single-Server Edition (126 GB total memory, 5 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2025 OpenLink Software