SA Express to table results when going-concern status resolved, says Lynne Brown
The auditor-general is not satisfied the airline can continue operating for the next 12 months — but it is unclear how the issue will be resolved
State-owned airline South African Express has been unable to satisfy the auditor-general that it can continue operating as a going concern for the next 12 months.This was the reason given by Public Enterprises Minister Lynne Brown for the airline’s failure to table its annual financial statements for the 2016-17 financial year in Parliament before the end-September deadline. The airline tabled only its 2015-16 financial statements in the past few weeks.The loss-making airline has already faced an application for liquidation by a creditor, which it is contesting.Brown wrote a letter to National Assembly speaker Baleka Mbete explaining why SA Express would not be able to finalise its annual financial statements by end-September, as required by the Public Finance Management Act. "The annual report and annual financial statements will be tabled as soon as the going-concern status of the airline has been resolved and the audit has been concluded," Brown said in her letter. It is not clea...
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