SAA reports R3,7bn loss

In the nine months to
December 2017, SAA
reported R3,7bn loss, and
is forecasting a R4,8bn loss
for the 2017-2018 financial
year, Parliament’s Standing
Committee on Finance
heard on March 27. The
airline will table its financial
results at its AGM, set for
March 29.
According to a report in
Business Day, SAA chairman,
Johannes Magwaza,
said a lack of skills at
executive level threatened
the airline’s ability to turn
around, while there was
also an expectation that the
government would step in
and bail out the airline when
needed. “It is a bad culture
indeed,” he was quoted as
saying