Auditor-general fears for viability of South African Express
South African Express’s finances are so precarious that the auditor-general has flagged the airline’s ability to meet its obligations to creditors without going into the red. This came out during a sitting of the standing committee on public accounts on Tuesday, when the departments of transport, home affairs, environmental affairs and public works, as well as the airline, had to explain why they have not tabled their 2015-16 annual reports. Public Enterprises Minister Lynne Brown, the shareholder representative, has petitioned Parliament for an extension because the airline is awaiting a government guarantee before it can finalise its financial statements. Chairman of the committee Themba Godi told Business Day that Auditor-General Kimi Makwetu was concerned about South African Express’s ability to pay creditors without being liquidated. The Department of Transport’s fight with technology company Tasima about the management of the electronic national administration traffic informat...
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