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Treasury asks for yet another extension on SAA’s financials

Finance Minister Pravin Gordhan has asked for a fresh extension of the deadline to 15 September.

FILE: Finance Minister Pravin Gordhan. Picture: Christa Eybers/EWN

CAPE TOWN - Finance Minister Pravin Gordhan has asked Parliament for more time to table South African Airways' (SAA) overdue Annual Financial Statement on the eve of the latest deadline.

After several extensions, the 2014-2015 financial results were supposed to be tabled tomorrow.

But 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.

Gordhan has asked for a fresh extension of the deadline to 15 September.

In a statement, his office says SAA's request for a guarantee has required extensive and careful consideration because of the potential implication of the decision on the economy.

During a speech delivered in Parliament in May, Deputy Minister Mcebisi Jonas said the state-owned airline needed a full strength board and competent executives appointed to vacant positions.

He said only then would government be in a position to consider possible support enabling SAA to table its financial information.