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SA Express is crashing because of poor financial management - Scopa

18 June 2020 7:34 AM
Tags:
SCOPA
SA Express
SA Express financial woes
Liquidators

Chaiperson Mkhuleko Hlengwa reflects on the liquidators finding discrepancies in the carriers asset evaluation.

The liquidators of SA Express on Wednesday told Parliament's standing committee on public accounts (Scopa) that they found massive discrepancies in the company's asset evaluation.

Scopa in return says it will be seeking answers from board members and CEOs of SA Express over the collapse of the government owned regional carrier.

RELATED: Is SA Express next in line for business rescue?

In April the carrier was placed under provisional liquidation and the process has been extended to September after a successful application to the high court by the liquidators.

Bongani Bingwa speaks to Scopa chairperson Mkhuleko Hlengwa to give more insight on the matter.

We are not suprised that it has come to this, given all the warnings that we gave about compliance at the regional carrier. The airline crashed because of poor financial management.

Mkhuleko Hlengwa, Chairperson - Scopa

The brutal brant of the airline crashing is going to felt by the employees, he says.

The liquidators clearly indicated to us that the intergrity of the record keeping is called into question because they have had to investgate and assess everything to find that there are discrepancies which makes it difficult for them to move forward.

Mkhuleko Hlengwa, Chairperson - Scopa

Listen below to the full conversation:




18 June 2020 7:34 AM
Tags:
SCOPA
SA Express
SA Express financial woes
Liquidators

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