South African Airway’s long awaited Annual Report for 2014/15 has now been tabled by the Minister of Finance, containing a further revision to the net loss for the group, which now amounts to R 5.62 billion rand.

But it should come as no surprise that the 2015/16 Annual report is nowhere to be seen, and it seems that SAA is determined to follow the same delayed and flawed process that it did with the 2014/15 statements, a clear indication that SAA continues to be in free fall.

The DA requested final and complete reports for both the 2014/15 and 2015/16 years, and unsurprisingly many of these have not been tabled and continue to be overdue.

For the 2014/15 year these include:

• The finalised annual reports for all Subsidiaries; and
• The audited financial statements for all subsidiaries.

For the 2015/16 year these include:

• The finalised annual reports for SAA and all subsidiaries;
• The audited annual financial statements for SAA and all subsidiaries; and
• The auditors statement.

Further documents that were requested and are outstanding:

• The SAA Shareholder Compact;
• The evaluation of the Boards conduct and performance by Stator (Pty) Ltd; and
• The “benchmarking” exercises referred to in the preliminary annual report.

Whilst the DA welcomed the agreement by the committee chair and the Deputy Minister of Finance to a follow up meeting to be held with SAA on the 16th of November 2016 in Parliament, we now believe that it is imperative that this meeting be brought forward as a matter of urgency in order for pending questions to be answered.

 

Issued by DA