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Scopa to visit SAA's headquarters over delay in sumbitting financial statements

SAA will face tough questions from members of Parliament’s standing committee on public accounts during their oversight visit to the embattled airline’s headquarters on Thursday.

Picture: @flysaa_care/Twitter

CAPE TOWN - Parliament’s watchdog over public spending will descend on South African Airways (SAA) on Thursday to get answers on when it will submit its long-delayed financial statements.

The embattled state carrier is insolvent and unable to sign off its books for the past two financial years as a going concern. It last made a profit in 2011 and by its own admission has lost R10.4 billion over the past two years.

SAA will face tough questions from members of Parliament’s standing committee on public accounts during their oversight visit to the embattled airline’s headquarters on Thursday.

Scopa chairperson Mkhuleko Hlengwa said the aim of the visit was to find out why SAA continued to breach the Public Finance Management Act in failing to submit its annual financial statements, as well as to assess its internal controls.

SAA is waiting for an answer to its request for a R2 billion loan guarantee to enable it to pay salaries at the end of the month and other creditors.

Scopa was not amused when SAA said at the last minute it was unable to meet the committee earlier this month, hence the decision by Scopa to make the trek to Johannesburg.