JOHANNESBURG – Public Enterprises Minister Pravin Gordhan said on Wednesday that the auditing of SAA’s financial statements was far from being finalised.
Gordhan told Parliament’s portfolio committee on public enterprises that funding options for the struggling national airline had been explored, and an announcement was expected soon.
He said the Department of Public Enterprises was closer to finalising SAA’s realignment with low-cost airlines SA Express and Mango as part of a major restructuring of state-owned enterprises (SOEs).
“A Cabinet memo was submitted proposing the implementation of an optimal corporate structure for the airlines, which is still being considered by the Cabinet,” Gordhan said.
Gordhan admitted that SAA and SA Express had been crippled by poor leadership and financial management.