In January, Public Enterprises Minister Pravin Gordhan said SAA was trading profitably. Less than a month later, National Treasury said the airline had lost R50 million in the first three quarters of the 2022-23 financial year. But the budget tabled on February 22 projected SAA’s loss at R786.7 million, against revenue of R3.8 billion and expenses of R4.6 billion. The airline has not made a profit on an approved business rescue plan of R12 billion and is expected to make a loss of around R200 million by the end of the 2023-24 financial year. Bailout Finance Minister Enoch Godongwana promised another R1…
Source link