SAA finally submits outstanding financial statements dating back four years

CAPE TOWN - South African Airways (SAA) has finally submitted its outstanding annual financial statements to Parliament.

But the Auditor General (AG) has given SAA disclaimers for all the years in question, saying the airline remains a concern. 

SAA and the office of the AG briefed Parliament’s public enterprises committee on Wednesday on the review of the outstanding financial statements from 2019 to 2022.

While members of the committee welcomed the audited financial statements, the department said a lot of work still has to be done.

Deputy Minister of Public Enterprises Obed Bapela said they are still on the journey to turn around the airline.

"So much work still has to be done. The issue of strategic equity partner has still not been resolved."

Board chairperson Derek Hanekom said while there is a "legacy of bad stories", the last four years are water under the bridge.

The committee will now meet separately with Minister Pravin Gordhan to get an update on the majority sale of SAA to an equity partner.