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SAA will only be back in the black in 2019 - CFO

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Cape Town – South African Airways (SAA) will continue on its loss-making path for the foreseeable future with losses of R2.8bn expected in 2017/18, MPs heard on Friday.

The SAA board and management and Finance Minister Malusi Gigaba briefed the standing committee on finance on the national carrier's finances and corporate plan, among other matters. Chief financial officer Phumeza Nhantsi disclosed that in addition to the loss in the current financial year, the airline will take a further hit of R1.8bn in 2018/19.

She sees SAA as possibly making a profit in 2019/20.

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