'Technically insolvent' SAA says it is at a precipice as strike looms
13 November 2019
The leadership of struggling flag carrier South African Airways has said that questions around its ability to continue operating as a going concern were behind its failure to table its annual report for the 2018-19 financial year.
SAA was briefing Parliament's Standing Committee on Public Accounts on Wednesday after it failed to table the report as required by law.
A delegation told the committee that Auditor General Kimi Makwetu's reservations about whether the national carrier can continue on as a going concern would make accessing much-needed finance harder.
Unions at SAA have threatened to strike after the company said it may have to cut hundreds of jobs to save costs. The delegation told the committee that a strike by unions appears "imminent". The National Union of Metalworkers of South Africa and the South African Cabin Crew Association have scheduled an urgent media briefing on Wednesday afternoon in Johannesburg.