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
Number of South Africans visiting the seaside has dropped

Number of South Africans visiting the seaside has dropped

Fedhasa's CEO is encouraging South Africans to take a look at the specials that are currently out there and make their bookings.

Fedusa to meet PIC as Steinhoff crash hits workers pension funds hard

Fedusa to meet PIC as Steinhoff crash hits workers pension funds hard

Public Investment Corporation (PIC) has reportedly lost almost 9% value due to Steinhoff share price tumble last week.

Instead of investigating state capture they are investigating me - Jacques Pauw

Instead of investigating state capture they are investigating me - Jacques Pauw

Journalist and author Jaques Pauw says he doesn't understand why he being investigated and summoned to appear before police.

No-hassle Flexipump may be answer to farmers' water irrigation woes

No-hassle Flexipump may be answer to farmers' water irrigation woes

Agricultural water restrictions kick-in from January and Flexipump pumps water from a water source like a river to irrigate crops.

Rising tennis star Khololwam Montsi is determined to make SA proud

Rising tennis star Khololwam Montsi is determined to make SA proud

Speaking to CapeTalk's John Maytham, Montsi says he is currently focusing on going pro and making his country proud of him.

 Metrorail central line trains suspended due to vandalism

Metrorail central line trains suspended due to vandalism

Metrorail regional manager, Richard Walker says criminals are making it hard for them to operate in the area.

Popular articles
[LISTEN] 'We are dealing with an outbreak of Listeriosis' - Dr Thomas

[LISTEN] 'We are dealing with an outbreak of Listeriosis' - Dr Thomas

Head of the Centre for Enteric Diseases at the NICD Dr Thomas says that Listeriosis is problematic because it isn’t notifiable.

Publisher saves South African students billions with free textbooks

Publisher saves South African students billions with free textbooks

This year we're going to hit a million downloads of free textbooks in SA - James van der Westhuizen, country manager for Bookboon.

‘Conflicted’ Zuma will never again have say in appointing NPA boss, court hears

‘Conflicted’ Zuma will never again have say in appointing NPA boss, court hears

Shaun Abrahams is no longer the National Director of Public Prosecutions and President Zuma can't appoint his replacement.

Steinhoff money woes and why you should care

Steinhoff money woes and why you should care

The company lost around R100 billion leaving the JSE reeling in one of the biggest private sector business scandals.

Few retirement funds unaffected by Steinhoff implosion (i.e. you just got had)

Few retirement funds unaffected by Steinhoff implosion (i.e. you just got had)

Your money, and Steinhoff… Bruce Whitfield interviews Certified Financial Planner Peter Calitz.

‘There were clear warning signs at Steinhoff. All of which fund managers missed’

‘There were clear warning signs at Steinhoff. All of which fund managers missed’

The Money Show’s Bruce Whitfield interviews Sygnia Group CEO Magda Wierzycka.

Zille: 40 000 affordable housing units in the pipeline for WC

Zille: 40 000 affordable housing units in the pipeline for WC

Western Cape Premier Helen Zille says the government plays a crucial role in the provision of affordable housing in the province.