SAA losses climb higher to R4.5 billion for 2016/17

27 March 2017

The latest information provided to the Standing Committee on Finance (SCOF) by the South African Airways (SAA) board reveals a staggering loss of R4.5 billion for 2016/17.

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.

This is an increase of R1 billion in the space of ten days and an increase of R2.8 billion in the space of 6 months.

With a full month of figures left to be reported on, this figure of R 4.5 billion could experience yet another significant increase.

The DA will interrogate these volatile numbers fully when SAA appears before the SCOF on Wednesday, 29 March 2017, as it is simply inconceivable that SAA losses have increased by a staggering R1 billion in a matter of weeks.

Issued by Alf Lees, DA Shadow Deputy Minister of Finance, 27 March 2017