South Africa
SAA lost more R10.5bn in the past two years: report─── 16:08 Fri, 15 May 2020
South African Airways made combined losses of more than R10.5-billion in 2018 and 2019.
This was revealed in draft statements for the 2018 and 2019 financial years.
The financial statements were tabled before Parliament's Standing Committee On Public Accounts after long delays.
SAA's business rescue practitioners are expected to be questioned by Scopa on Friday.
It has also emerged a memorandum has been signed between the business rescuers and the Public Enterprises Department not to sell any SAA assets without consulting government.
The agreement is valid until the end of June.
Talks are still being held to save the airline or start a new one.
