South Africa’s National Treasury Department has officially declared that South African Airways (SAA) is no longer technically insolvent. The chief director of asset and liability management at the Treasury, Ravesh Rajlal gave an online presentation to the Standing Committee on Appropriations stating that SAA had a net equity value of $55.4 million as of December 31, 2022. The carrier also reported a net loss for the first three quarters of FY22-23 as $2.7 million over the budgeted loss of $35.3 million. SAA exited business rescue almost two years ago on April 30, 2021 and resumed commercial flights on September 23,
This content is restricted to site members.
If you are an existing user, please login below.
New users may register below.