POLITICS

SAA armageddon continues as losses grow to R5.64 billion – Alf Lees

DA says Dudu Myeni was almost two hours late to important meeting and once there, avoided all questions

SAA Armageddon continues as losses grow to R5.64 billion 

20 September 2016

The long awaited meeting of the Standing Committee on Finance with SAA was a shambles, raising more questions than answers. 

One of the few concrete facts to come out of the meeting was the shocking increase of nearly R 1 billion rand in further losses, taking the total loss for 2014/15 to R 5.64 billion rand, with a further R 1.5 billion loss in the 2015/16 financial year. 

SAA Board Chairperson, Dudu Myeni snuck her way into the meeting almost a full two hours late and once present avoided all questions. 

The DA welcomes the agreement by the committee chair and the Deputy Minister of Finance to a follow up meeting to be held on the 16th of November 2016 in Parliament, where the DA will continue to seek clarification and push for a better run SAA. 

We expect that the committee will be furnished with final and complete reports for both the 2014/15 and 2015/16 years both of which are now overdue for tabling. These reports must include;

- The finalised annual reports for SAA and all subsidiaries.

- The audited annual financial statements for SAA and all subsidiaries.

- The auditors statement.

- The SAA Shareholder Compact.

- The evaluation of the Boards conduct and performance by Stator (Pty) Ltd

- The “benchmarking” exercises referred to in the preliminary annual report

Issued by Alf Lees, DA Deputy Shadow Minister of Finance, 20 September 2016