Overdue SAA financial statements to be tabled in Parly tomorrow
The 2014-2015 financial results were due in September 2015, but Treasury has asked for three extensions.
CAPE TOWN - The South African Airways' (SAA) overdue financial statements are supposed to be tabled in Parliament tomorrow.
The 2014-2015 financial results were due in September 2015, but Treasury has since asked for three extensions.
Treasury requested the extensions because of the state-owned airline's financial problems and "the company's external auditors' concerns regarding its going concern and liquidity position."
Treasury says the financial statements can't be finalised until a decision is taken on whether to grant the airline a R5 billion government guarantee.
Minister Pravin Gordhan is expected to provide clarity on the issue this week.
His deputy, Mcebisi Jonas, outlined what needed to happen at the troubled airline when he addressed Parliament in May.
He said the state-owned airline needs a full strength board and competent executives appointed to vacant positions in order to drive a long-term turn-around strategy.
Jonas said only then would government be in a position to consider possible support enabling SAA to table its annual financial statements.