SAA’s secret shame revealed — finally
Annual financial statements show a dysfunctional airline that racked up a combined R23.5bn in losses
17 December 2023 - 06:29
The annual financial statements that SAA failed to submit to parliament for four consecutive years paint a picture of a dysfunctional airline that racked up a combined R23.5bn in losses.
Fuel costs, aircraft maintenance, employee remuneration and aircraft lease costs gobbled up most of the revenue. Accommodation and refreshment costs were above R1bn in 2018/19 and 2019/20 but were contained in subsequent years to under R35m. ..
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