South African Airways nears collapse with plan to fire all staff

South African Airways plans to lay off its entire 4,700-strong workforce after failing to persuade the govt to provide more financial help, a move that threatens to ground the carrier for good. The airline has offered severance deals to all staff from the end of this month after administrators concluded that a successful turnaround is now unlikely, according to a proposal to 8 labour groups seen by Bloomberg. The basic value of compensation will be 1-month pay per year of service and will depend on the successful disposal of assets such as real estate, according to the document. The coronavirus may prove the final nail in the coffin for SAA, which was reducing routes and considering job cuts even before the outbreak forced airlines around the world to ground planes. <br/>