SAA doesn't want to release finance information for fear of liquidation

SAA doesn't want to release finance information for fear of liquidation

- Embattled SOE, the South African Airways, do not want to release their finance information

- This is because the company fears that should this data be revealed, they will be liquidated

- Minister Pravin Gordhan stated as much in parliament this week

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South African Airways continues to struggle to stay afloat as its financial woes just don't seem to end.

The struggling company is reluctant to release its financial information because it fears it would then be liquidated.

As reported on by BusinessTech, Minister Pravin Gordhan stated this at parliament earlier in the week.

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Parliament reacted by saying it understands that premature release of financial statements has consequences but need to understand how the airways came to be in such a state.

The last time that the SAA presented financial statements was for the financial year of 2016/2017.

In related news, Briefly.co.za reported that SAA plans to cancel flights to KZN.

The province's KZN's Economic Development MEC Nomusa Dube-Ncube is deeply concerned about the cancellation of SAA flights to the province.

She feels doing this will affect the province in many negative ways. Dube-Ncube says KZN is the gateway to Africa and cancelling flights will be a bad decision.

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Source: Briefly.co.za

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