SAA's Profit Masks Deep Troubles, Critics Call for Private Takeover
Johannesburg News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
South African Airways reported a profit of 155 million rand for the 2024-2025 financial year, with revenue topping 9.26 billion rand. However, this figure is misleading due to asset sales and government support. The government issued new shares worth over 1 billion rand, which critics argue is a bailout. The airlines financial statements were disclaimed by the auditor-general, and operations showed a negative EBITDA of 443 million rand. Despite improved passenger numbers, critics call for private buyers to take over due to government meddling.
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