It’s reported that South African Airways (SAA) made a net loss of R1.38 billion in the first quarter of its financial year.
Editor and Publisher of SA Flyer Magazine, Guy Lietch says that the figures seem suspiciously high for a four month period.
According to Lietch , the full extent of losses at SAA will only become known once it starts repaying its loans and interest bills.
Despite his skeptism over the estimates, Lietch maintains that the airline is in “deep trouble”.
It remains unclear how SAA is gaining sustainable financial flows, explains Lietch.
I was beginning to get worried that the airline would not make its salary account soon.— Guy Leitch, Editor and Publisher of SA Flyer Magazine
He says it’s possible that SAA may be running profitably at the operational level, but still insists that airline chairperson Dudu Myeni be replaced.
Listen to the full conversation from The Midday Report with Stephen Grootes:
This article first appeared on 702 : SAA "in deep trouble" amid reported R1.38bn first quarter loss