The Best of Breakfast with Bongani Bingwa

SAA under business rescue


Bongani speaks to Gareth Cremen Attorney specializing in debt recovery, business restructuring, business rescue & insolvency.

SAA has been in financial distress since it tabled its 2013 annual report
which showed that total liabilities exceeded assets by R849 million.
The auditor-general issued a qualified audit opinion on the 2017 financial
statements that included a long list of shortcomings in SAA’s financial
management. The airline has not been able to make profit since 2011,
has received an excess of over R34 billion rand, and now operating at a
loss.

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