Cape Town - SAA’s financial woes have deepened after it failed to submit its audited financial statements in Parliament because of liquidity challenges.
Public Enterprises Minister Pravin Gordhan told Speaker Thandi Modise in a letter on Wednesday that both SAA and SA Express (SAX) would not submit their financial statements until it has got its house in order.
The law requires that departments and state-owned entities had to submit their annual reports with audited results by the end of September, but SAA and SAX failed to meet this deadline.
This comes at a time the South African Pilots Association (Sapa) has threatened a strike at SAA unless management and executives fixed the airline. The National Union of Metalworkers of South Africa (Numsa) and the SA Cabin Crew Association (Sacca) backed the strike by Sapa.
The unions said they rejected any plans to privatise SAA.