Inconceivable that SAA’s projected loss jumps R1bn in just weeks, DA says
The DA says it will ask SAA about the ‘volatility’ in its financial statements when the airline appears before Parliament on Wednesday
South African Airway’s (SAA) is now expecting a loss of R4.5bn for the 2016-17 financial year, R1bn more than projected 10 days ago. SAA has also distanced itself from comments made by Finance Minister Pravin Gordhan that a new CEO could be finalised by the end of March. Business Day understands that candidate interviews were to continue from Monday, and that a preferred candidate might only be submitted to the Treasury in April. On Monday, the DA said the latest information provided to the standing committee on finance by SAA had noted the R4.5bn loss, and that it would put the "volatility" in financial statements to SAA when it appeared before Parliament on Wednesday.
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