Gordhan: You'll probably have to pay someone to take SAA
Public Enterprises Minister Pravin Gordhan told Scopa and the portfolio committee on Public Enterprises that the liquidation of SAA would not have been a viable option as this would have led to job losses.
CAPE TOWN - Members of Parliament remain concerned about the challenges plaguing SAA and have again raised concerns over the non-submission of its annual financial statements.
It's been almost three years since SAA submitted annual financial statements due to its dire financial situation.
Public Enterprises Minister Pravin Gordhan on Wednesday briefed Parliament's Standing Committee on Public Accounts (Scopa) and the portfolio committee on Public Enterprises.
Members of Scopa and the Public Enterprises committee will give SAA's business rescue practitioners time to try to find a workable rescue plan.
Committee chairperson Mkhuleko Hlengwa: "The work should be concluded by 6 March."
Minister Pravin Gordhan told the committee that liquidation would not have been a viable option as this would have led to job losses.
He said that as things stood, it would be hard to find a buyer for SAA.
"Nobody's going to offer you anything for SAA at the moment. Some of you talked about selling SAA, you can sell it for R1. You'll probably have to pay someone to take SAA as it stands right now. That's the honest truth."
The two committees have resolved to give business rescue practitioners space to complete their work during the prescribed 90 days, which expires on 6 March.