December 3, 2019 / 8:58 AM / 9 days ago

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

A South African Airways (SAA) aircraft is seen parked on the tarmac at Cape Town International Airport in Cape Town, South Africa, November 14, 2019. REUTERS/Sumaya Hisham/File Photo

JOHANNESBURG (Reuters) - 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.

($1 = 14.7075 rand)

Reporting by Alexander Winning, Editing by Franklin Paul

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below