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