The losses of the already cash-strapped South African Airways (SAA) has rapidly increased to R4.5 billion, documents submitted to Parliament’s standing committee on Finance revealed.
“This new figure of R4.5 billion is significantly higher than the R3.5 billion revealed ten days ago and the R1.7 billion estimated in September 2016,” a statement by committee member, Democratic Alliance MP Alf Lees said on Monday.
“This is an increase of R1 billion in the space of ten days and an increase of R2.8 billion in the space of 6 months.”
Lees said he expected the losses will increase as the 2016/17 financial year in set to end on Friday, March 31.
SAA is expected to appear before the standing committee on Wednesday.
– African News Agency (ANA)
