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Mboweni agrees to SAA's R10.5bn bailout; no funds for SABC, Post Office and Denel 

By: News24Wire      28th October 2020 South African Airways will get the R10.5-billion it has requested from government to fund its business rescue process. The monies will be made available from reductions from national departments and their entities as well as reductions from local and provincial conditional grants, according to... 

Denel warns of big funding gap for key capabilities 

By: Reuters     21st October 2020 South African state arms firm Denel said on Wednesday it faced a funding gap of around R2.75-billion over the next five years for key capabilities. Denel, which makes military equipment for South Africa's armed forces and export, is in the grips of a liquidity crisis aggravated by the coronavirus... 

Paramount to expand air adversary offering in the US

By: Donna Slater     14th October 2020 Aerospace systems company Paramount Aerospace Systems USA (PAS USA) reports that it will “significantly expand” its maintenance, repair and overhaul (MRO) services and training support for the Mirage F1 fighter jet fleet operated by US military contractors that provide adversary training for the... 

Denel made R1.7bn annual loss, ministry says 

By: Reuters     19th August 2020 South Africa's state defence firm Denel made a R1.7-billion loss in the 2019/20 financial year, the ministry that oversees the company said on Wednesday. Denel, which makes equipment from armoured vehicles to missiles for the South African armed forces and clients around the world, is suffering a... 

Former Denel CEO Sadik returns after eight years to be beleaguered group’s interim CEO

By: Rebecca Campbell     17th August 2020 Financially-embattled State-owned defence industrial group Denel announced on Monday that Talib Sadik had been appointed as its interim CEO. This is the second time that Sadik, a chartered accountant (SA), has headed the group. He was Denel CEO from 2008 to 2012. In its press release, the group... 

Trade union to institute contempt of court proceedings against Denel

By: Rebecca Campbell     11th August 2020 The Uasa trade union announced on Tuesday that it was instituting legal proceedings against financially-beleaguered State-owned defence industrial group Denel for contempt of court. This followed Denel’s failure to implement an order of the Labour Court to pay Denel employees their salary... 

Denel seeking extension to period in which it has to pay its staff their arrears

By: Rebecca Campbell     7th August 2020 In a press statement released on Friday, financially-embattled State-owned defence industrial group Denel reported that it was trying to get an extension to the court-ordered deadline for it to pay its workers their full salaries. In a judgment handed down on August 4, the Labour Court had... 

Denel 'studying' Labour Court judgment, assures it will meet its staff obligations

By: Rebecca Campbell     5th August 2020 Financially-beleaguered State-owned defence industrial group Denel has confirmed that it has received the judgment against it by the Labour Court, handed down on Tuesday. The case had been instituted by two of the unions representing workers at Denel. The court ordered the group to pay its... 

More legal woes loom for Denel as another union takes it to court

By: Rebecca Campbell     24th July 2020 The trade union UASA announced on Friday that it was going to take financially-embattled State-owned defence industrial group Denel to the Labour Court over the non-payment of employee salaries. This followed “months” of talks with Denel “failing to find a solution to the issue” said the union in... 

Trade unions slam Denel management over unpaid salaries, head to court

By: Rebecca Campbell     3rd July 2020 The Solidarity trade union has blasted the South African government and the management of State-owned defence industrial group Denel over their mishandling of the affairs of the company, causing it to be in so bad a condition as to be unable to pay its employees their full salaries. In May, some... 

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