SAA’s losses for 2014/15 almost R1bn more than R4.7bn guarantee

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Cape Town - SAA’s losses for the 2014/15 financial year was R5.6bn — close to R1bn more than the expected amount of R4.7bn. 

This emerged when the national carrier presented its 2014 to 2015 interim financial statements to parliament’s standing committee on finance on Tuesday. 

Finance Minister Pravin Gordhan said in Parliament last week that SAA’s loss for 2014 to 2015 would amount to R4.7bn. However, when the airline tabled its preliminary financial results late on September 15, Gordhan pointed out that there had been technical difficulties which could result in material changes to the financials.

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