• South Africa
    SAA continues to fly at a loss

    It was revealed in Parliament yesterday that South African Airways losses for the past two months amount to R 734 million. This follows losses of R 4.8 billion in the 2016/17 financial year. However even more shocking was the fact that: Neither SAA nor National Treasury had a plan in place to meet the 30th […]

  • South Africa
    SAA losses skyrocket to R3.5 billion

    It was revealed in Parliament last week that South African Airways (SAA) has projected losses for the 2016/17 year of R 3,5 billion. This represents a staggering R 2 billion increase compared with the R 1,5 billion loss declared in the 2015/16 year. There is no doubt that these massive losses will mean that SAA […]

  • South Africa
    south african airways
    SAA soars to losses of R 5.6 billion

    SAA’s losses for the 2014/15 financial year was R5.6bn — close to R1bn more than the expected amount of R4.7bn. This emerged when the national carrier presented its 2014 to 2015 interim financial statements to parliament’s standing committee on finance on Tuesday. The national airline made a R 1.5 billion loss in the 2015/16 financial […]

  • News
    SAA records R 1 billion operating loss

    The long awaited South African Airways’ (SAA) 2012/13 annual report has finally been tabled in Parliament and the findings are deeply concerning. The report shows that SAA has managed to rack up a R1, 2 billion operating loss that year. The DA has called on the Minister of Finance, Pravin Gordhan, to announce during his […]

  • News
    SAA is a black hole for public money

    The Minister of Public Enterprises, Malusi Gigaba, announced yesterday that South African Airways (SAA) operating losses for the 2012/13 financial year amounted to nearly R1 billion. He also confirmed that SAA has been granted a R5 billion bailout by the National Treasury and that he would be seeking further funding from Treasury for the airliner’s […]

  • News
    south african airways
    SAA turnaround strategy: How much will it cost?

    The South African Airways (SAA) ninth ‘turnaround strategy’ in thirteen years presented in Parliament today does not instil confidence that the public carrier will be stabilised. It appears that the SAA will continue flying around in circles with no end in sight. During the Portfolio Committee on Public Enterprises today, Minister Malusi Gigaba failed to […]

  • News
    south african airways
    Last flight plan for SAA

    South African Airways soon to be released 20-year turnaround strategy represents the airline’s last chance to stabilise its operations after nearly two decades of wasting public funds. If this fails, the only viable option left will be to privatise. Yesterday, acting CEO of SAA, Nico Bezuidenhout, briefed the portfolio committee on public enterprises on the […]

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