SAA’s financial statements, which will be presented to parliament on Friday afternoon — more than two years late, reveal substantial losses of R5.5bn in 2018 and R5.1bn in 2019.

The company, which is obliged by law to table its annual financial statements in parliament, has not done so since 2017. The company is insolvent and on December 5 was placed in business rescue. However, parliament’s standing committee on public accounts (Scopa) has insisted that the company submit its financial accounts, regardless of whether or not it is a going concern...

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