WATCH: SAA and SAX fail to submit annual reports to Parliament
PARLIAMENT – South Africa’s cash-strapped state-owned airlines have failed to submit audited annual reports to Parliament by the September 30 deadline.
In a letter published in the announcements, tablings and committee reports (ATC) on Wednesday, Public Enterprises Minister Pravin Gordhan informed the legislature that both South African Airlines (SAA) and South African Express (SAX) were unable to meet their going concern status.
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“The Boards of South African Airways SOC Limited (SAA) and South African Express Airways SOC Limited (SA Express) have not been able to finalise and submit the annual reports to me within the PFMA prescribed timelines,” Gordhan said in the letter, dated September 27.
“Both airlines are experiencing serious financial challenges and are unable to meet going concerns”
Gordhan said the SAA board had informed him that the newly appointed interim chief executive and chief financial officers have requested more time to submit their financials to the Auditor-General of SA’s office.
Source: iol.co.za