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Cape Town - Minister of Finance Pravin Gordhan has requested Parliament to grant an extension until September 15
2016 for the tabling of the annual financial statement (AFS) of South African Airways (SAA), Treasury announced on Thursday afternoon.
"SAA submitted an updated application for a going concern guarantee on December 21 2015. SAA’s annual financial statement cannot be finalised on a going concern basis until a decision has been taken on the guarantee application," the statement explains.
"Given the potential implication for the sovereign and for the economy the matter has required extensive and careful consideration. The AFS will be tabled once they have been finalised."
Last year, the oversight committees at Parliament wrapped SAA over the knuckles for its failure to submit its annual report for 2014-’15, but a corporate plan tabled showed that its operating performance increased by R358m in the nine months to the end of December.
In the report, SAA also forecasts savings to the value of R1.1bn over the next three years.
In November last year, the national carrier asked for further bailouts from government to the tune of R5bn to enable it to complete its financial statements for 2014-15. This was in addition to a treasury grant of R6.5bn in December 2014.
Government has given SAA a total of R14.4bn guarantees to date.
