Submit financial statements or face deregistrations, Hong Kong warns SAA

Sunday Times reports that South African Airways (SAA) has been given until early next month by the Hong Kong Registrar of Companies to submit its annual financial statement or face deregistration.

Guy Leitch, Editor of SA flyer says in terms of the South African Act, SAA has until the end of September to submit its financials which failure could result in the carrier being grounded locally as well.

SAA hasn't been able to provide its financial statements for the past two years.

Leitch says he suspects that the British and the Americans would be next in demanding regulatory documents from SAA.

They have to ensure to their citizens that traveling on this airline is A. Safe and B. is likely to continue and that is why a much needed state guarantee is a growing concern and not just an auditing requirement for a successful operation

Guy Leitch, Editor of SA Flyer

According to Leitch, SAA financials could be looking good even without a guarantee from Treasury, because the entire operating environment for airlines around the world has been good for the last two years.

He says he suspects the airline is operating profitably and making ends meet, in that there have been no complaints from any of their suppliers.

Listen to the full conversation below:

Read More
6500 scholar patrolman in Gauteng to go through compulsory vetting process

6500 scholar patrolman in Gauteng to go through compulsory vetting process

The process is compulsory for all scholar patrolman and follows a series of sexual abuse cases at reported at Gauteng schools.

'Ramaphosa will be able to campaign more freely for president if he is fired'

'Ramaphosa will be able to campaign more freely for president if he is fired'

Analyst Ralph Mathekga says if Zuma fires Ramaphosa he would no longer be constrained by being part of the administration.

AirBnB working together with CoCT to spread tourism even wider

AirBnB working together with CoCT to spread tourism even wider

Airbnb and the City of Cape Town signed a collaboration agreement to promote Cape Town as a travel destination around the world.

GetSmarter determined to changing the face of education globally

GetSmarter determined to changing the face of education globally

The online education company offers certified short courses designed for working professionals from the world's best institutions.

Jerome Booysen of Sexy Boy's life could be under threat

Jerome Booysen of Sexy Boy's life could be under threat

A fight broke at a hospital where Booysen was admitted and it is believed Booysen was the target of the scuffle.

FBI to probe Guptas over SA, Dubai and USA cash flows

FBI to probe Guptas over SA, Dubai and USA cash flows

British authorities are also looking into transactions that came through HSBC and Standard Chartered for possible Gupta links.

Popular articles
Estate agent Aida admits it’s the source of SA’s largest data hack ever

Estate agent Aida admits it’s the source of SA’s largest data hack ever

The Money Show’s Bruce Whitfield interviews Stuff magazine’s Toby Shapshak.

UCT engineering student creates affordable grey water system

UCT engineering student creates affordable grey water system

Nkosinathi Nkomo came up with a system that could turn grey water into usable water amidst the Cape Town water crisis.

Meet Whitey Basson (the retail guru who turned Shoprite into a R127bn behemoth)

Meet Whitey Basson (the retail guru who turned Shoprite into a R127bn behemoth)

The Money Show’s Bruce Whitfield interviews the former CEO of Africa’s largest retailer by far.

CT airport shooting attempted hit on gang boss allegedly linked to '28s' -expert

CT airport shooting attempted hit on gang boss allegedly linked to '28s' -expert

A policing expert explains that the airport shooting may be linked to the shooting at a Stellenbosch nightclub this past weekend.

Almost 30 million SA ID numbers compromised after site hacked

Almost 30 million SA ID numbers compromised after site hacked

Independent Marketing Consultant in the Technology Space, Andrew Fraser says this looks like a leak and not a hack.

Cape Town International Airport shooting could be gang related - ACSA

Cape Town International Airport shooting could be gang related - ACSA

The incident happened in the early hours of Wednesday morning.