Letter to SAA Staff.
Thursday | 21 November 2019
Dear SAA Colleagues,
Delayed Payment of November 2019 Salaries
SAA will unfortunately not be in a position to fulfill salary obligations to employees on the scheduled payment dates.
SAA continues on a critical and sensitive path to secure R2 billion working capital from lenders to fund the day-to-day operations. SAA has not yet achieved this critical milestone. Furthermore, any funding from the lenders will need to be supported by a government guarantee that SAA will have to obtain.
The current negative sentiment surrounding SAA and ongoing operational challenges have exasperated efforts to reach this critical funding milestone.
SAA leadership continues to engage with the Shareholder and lenders to secure the required funding and to access the current approved guarantees.
SAA will keep employees updated regarding the exact date of payment for November salaries.
In the interim, you are advised to make arrangements with your financial service provider in respect of your scheduled monthly debit orders.
We know as a company that we have an obligation to pay salaries timeously and in full. We apologise sincerely for the delay and wish to give assurance that SAA leadership is working tirelessly to secure funding to pay salaries to all employees as soon as possible.
We acknowledge that this is a very difficult time and on behalf of SAA leadership, I wish to express our sincere gratitude to all employees who always ensure that SAA continues to operate in the best interest of our customers and SAA’s key stakeholders.
Regards / Kamnandi,
Zuks Ramasia
Acting Chief Executive Officer