South African Airways made 5.4 bln rand loss in 2017/18 – report

JOHANNESBURG – Struggling state-owned airline South African Airways (SAA) made 5.4 billion rand ($367 million) loss in the year to the end of March 2018, a copy of SAA’s financial report seen by Reuters showed.

SAA’s liabilities exceeded its assets by around 13 billion rand as of March 2018, according to the report, which SAA sent to a parliamentary committee.

SAA had not previously disclosed its financial results for the year ending in March 2018. SAA’s spokesman Tlali Tlali asked for questions to be submitted by email. – Reuters Africa

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