Johannesburg - Finance Minister Pravin Gordhan has a few weeks left before he tables the financial statements of SAA in Parliament at the end of the month.
Read also: Delayed SAA financial report frustrates committee
However, Gordhan has to get the shareholders to meet first to approve the results before he tables the entire report in the national legislature.
National Treasury spokeswoman Phumza Macanda could not be reached for comment yesterday.
The results of SAA are awaited with bated breath as they are overdue by 10 months. Gordhan has asked for several postponements from the Speaker, Baleka Mbete, to table the report.
This followed a request by SAA for a guarantee of R5 billion to continue as a going concern.
Scandals
Gordhan has been calling on state-owned entities not to rely on bailouts from the state.
The next three weeks will determine whether Gordhan will be able to get the results out for SAA and the meeting of the shareholders to give the go-ahead on the results.
The airline has been struggling of late with all sorts of scandals swirling around it.
In the latest episode the Organisation Undoing Tax Abuse (Outa) called on SAA to halt any deal with a little known financier, BnP Capital, to raise R15bn on its behalf.
Flawed
Outa said on Friday that it would take action against SAA if it went ahead and signed an agreement with BnP Capital because the company’s licence was revoked and the agreement was flawed.
It claimed that SAA had offered to give BnP Capital a success fee of 1.5 percent or R256 million if it secured funding from the market.
Outa said this funding could have been secured at less then the R256m proposed by BnP, which was grossly inflated.
It said the funding could have been sourced for between R170m and R215m.
The R15bn funding was needed urgently because R7bn in loans by SAA had been payable at the end of June.
Legal action
But Outa said it would drag SAA to court if it continued with this deal with BnP.
The threat of legal action by Outa could cause further trouble for the national airline.
Outa said it would not allow the use of taxpayers’ money improperly and SAA had to halt the agreement with BnP.
It added that SAA had been in serious financial trouble for some time and it would not allow it to sink further, because of a deal with an unknown company.
The process to appoint BnP was flawed, argued Outa, adding that there were discrepancies in the adjudication process of awarding the tender to BnP.
The latest scandal comes as SAA in June denied that it sub-leased 10 aircraft to Mango at a discounted price.
BUSINESS REPORT