SAA Denies Hong Kong Service in Jeopardy

Increase font  Decrease font Release Date:2016-08-27  Author:katrina  Views:1158
Tips:South African Airways (SA, Johannesburg O.R. Tambo) has denied reports in the South African press claiming its Hong Kong Chek Lap Kok services are in jeopardy. This weekend, The Sunday Times claimed authorities in the Chinese autonomous territory had give

South African Airways (SA, Johannesburg O.R. Tambo) has denied reports in the South African press claiming its Hong Kong Chek Lap Kok services are in jeopardy. This weekend, The Sunday Times claimed authorities in the Chinese autonomous territory had given the carrier until September 6 to submit its 2016 annual financial statements or face possible deregistration.

"The airline has not been deregistered and is unlikely to be deregistered," SAA spokesman Tlali Tlali told The Mercury newspaper. "We would like to assure all our customers that as part of our compliance and business continuity processes, we constantly ensure that we meet the compliance requirements in all jurisdictions wher we do business."

SAA is unlikely to submit a set of signed-off accounts by the deadline given its sole shareholder, the South African Treasury, has refused to issue a guarantee of at least ZAR4 billion (US$284 million) the carrier needs to finalize its 2014/15 financial statements as a going concern.

Earlier this year, Finance Minister Pravin Gordhan made it clear that no more funds would be allocated the technically-bankrupt carrier until its perennial leadership woes have been fully addressed.

The pronouncement, however, is no mean feat given the political overtones any appointment would invariably have. President Jacob Zuma has reportedly ignored two proposed board suggestions from Gordhan and his predecessor, Nhlanhla Nene.

SAA currently serves Hong Kong daily from its Johannesburg O.R. Tambo hub.


 
Keywords: South African Airways, SAA
 

 
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