SAA May Not Be Able to Operate Airline as a Going Concern
- South African Airways report compiled by Attorney General
- Carrier made net loss of $471 million in fiscal 2017: report
Photographer: Waldo Swiegers/Bloomberg
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South African Airways may not be able to continue to operate as a going concern, while the struggling state-owned airline has failed to properly record financial information and the value of assets, according to the Auditor General.
SAA made a net loss of about 5.6 billion rand ($471 million) in the year through March 2017, according to a document signed by AG Kimi Makwetu. Liabilities exceeded assets by about 17.8 billion rand, it said.