SAA losses climb to R4.5bn
The losses of the already cash-strapped South African Airways (SAA) has rapidly increased to R4.5-billion, documents submitted to Parliament’s standing committee on Finance revealed.
“This new figure of R4.5-billion is significantly higher than the R3.5-billion revealed ten days ago and the R1.7-billion estimated in September 2016,” a statement by committee member, Democratic Alliance MP Alf Lees said on Monday.
“This is an increase of R1-billion in the space of ten days and an increase of R2.8-billion in the space of six months.”
Lees said he expected the losses will increase as the 2016/17 financial year in set to end on Friday, March 31.
SAA is expected to appear before the standing committee on Wednesday.
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