SAA delays annual financial report Today's News

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SAA has confirmed that it had requested an extension to finalise and present its annual financial statement to Parliament. According to the airline, Pravin Gordhan, the Minister of Public Enterprises, made the request on behalf of the shareholders in a letter to the National Assembly.

The airline has denied reports by City Press that it is considering selling off assets in order to offset its debt. Spokesperson Tlali Tlali told eTNW: “SAA has not decided to sell off any assets. In any event, there are legislative compliance requirements that must be dispensed with if a sale of assets (as claimed) were to happen. The requirements include shareholder approval.”

Tlali also denied reports that Treasury was not looking to extend the airline’s loan guarantees. “Treasury is part of shareholder (government). The shareholder is the owner of the business (SAA) and is assisting the company to meet its funding requirements.”

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