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Gordhan asks for more time for SAA to submit financial statements

Pravin Gordhan has asked for another month for the airline to table its financial statements.

Minister of Cooperative Governance and Traditional Affairs Pravin Gordhan in Parliament during the State of the Nation Debate on 17 February 2015. Picture: Thomas Holder/EWN.
South African Airways,Finance Minister Pravin Ghordan,SAA chairperson Dudu Myeni
Local Business

CAPE TOWN - Finance Minister Pravin Gordhan has asked for more time for the South African Airways (SAA) to submit its long overdue financial statements to Parliament.

He’s made the request in a letter to National Assembly Speaker Baleka Mbete, according to a statement released by the finance ministry a short while ago.

In November last year, Members of Parliament were told SAA had asked treasury for a loan guarantee of between R4 and R5 billion so that it could finalise its long overdue financial statement as a going concern.

A confidential memo indicated that the ailing national carrier was technically insolvent.

The ministry of finance’s statement says given the potential financial implications for the economy, SAA’s request, which was submitted on 21 December, needs careful and extensive consideration.

Gordhan has asked for another month for the airline to table its financial statements.

SAA board chairperson Dudu Myeni has refused to step down.

(Edited by Winnie Theletsane)

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