Operating costs and net loss rise R1bn in SAA’s final results
Deputy Finance Minister Mcebisi Jonas says technical issues raised by auditors led to significant changes to the past two years’ financial results
TECHNICAL issues in South African Airways’ 2014-15 and 2015-16 financial results had led to "significant" changes to them, Deputy Finance Minister Mcebisi Jonas said on Tuesday.The deputy minister led a team of Treasury officials and SAA executives to brief Parliament’s standing committee on finance on the troubled airline’s performance in the last two years.SAA tabled provisional financial statements for 2014-15 in Parliament on Thursday last week. They were provisional because the auditors had raised technical issues which had to be addressed.The final results show that the net loss for 2014-15 was R1bn higher than the provisional results tabled in Parliament. This was because the operating costs were R1bn more than stated.SAA chairwoman Dudu Myeni was late for the meeting, prompting a complaint by committee chairman Yunus Carrim that this was "not acceptable", but Jonas said this was because she had a medical problem.Deputy chairwoman Tryphosa Ramana was present as well as the ac...
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