South African parliamentary committee requests urgent report on SAA finances — TimesLIVE
South Africa’s parliamentary committee on appropriations has requested an urgent report from Transport Minister Barbara Creecy on the financial and cash position of state-owned airline South African Airways (SAA). The request came in the same week that the carrier, for the second time in a row, informed employees about phased salary payments, TimesLIVE reports.
Committee chair Mmusi Maimane said in a letter that serious allegations had been received from SAA employees regarding executive appointments and the accuracy of the company’s financial reporting. He stressed that these allegations have not been verified and that the committee is drawing no conclusions from them, but considers it necessary to receive an urgent update, including on the audit for the 2025/26 financial year.
What the report must contain
The committee requested, by October 30, information on SAA’s current financial and cash position, the use of approximately 1.1 billion rand from the sale of one of the airline’s two slots at London Heathrow Airport, possible future requests for state support, and steps to investigate the issues raised by employees.
Acting human resources director Lawrence Erasmus informed staff of new payment dates. Ground staff and cabin crew were to be paid on October 27, pilots on October 28, managers and specialists on October 30, and executives on October 31.
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The airline’s position
SAA said that phased salary payments in September and October were linked to significant liquidity pressure caused by geopolitical disruptions and rising aviation fuel costs. According to an airline representative, these measures were needed to maintain the carrier’s operations and meet its obligations to employees.
The carrier also confirmed receiving the parliamentary committee’s letter and promised to provide a comprehensive response. SAA said that a 1 billion rand state guarantee is a mechanism for raising capital for business needs.
In February, SAA announced a profit of 155 million rand for the financial year ending in March 2025. At the same time, its reporting showed operating revenue of 9.26 billion rand and operating expenses of 9.58 billion rand. Maimane said parliament must verify the reliability of the company’s financial indicators following the auditor-general’s concerns over the integrity of its financial reporting.
