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Troubled SAA has burnt through billions

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SAA chairperson Dudu Myeni
SAA chairperson Dudu Myeni

Johannesburg - Financial statements that South African Airways (SAA) was hoping to keep secret until early next year show just how dire the situation at the troubled national carrier was earlier this year.

SAA’s financial statements for the year ending March 31 2015 are only expected to be released in January, but an extract of the financials given to City Press on Friday appears to show that the company’s losses for the year reached a staggering R4.7 billion.

This is almost double the previous year’s losses of R2.5 billion.

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