29/09/2024
https://www.dailymaverick.co.za/article/2024-09-17-after-the-bell-is-state-owned-airline-saa-really-flying-into-profitability/
Although SAA's recovery and growth story is positive, several concerning factors, including its high operating costs, cast enormous doubts on whether the airline is truly profitable.
SAA last turned a profit in 2011. The airline has been flying under the radar, with its financial position a mystery because, until December 2023, it last tabled financial statements in 2018.
Since 2018, SAA has racked up financial losses of R28.9-billion and received bailouts of R48-billion from taxpayers. In other words, billions of rands went into a black hole. If SAA were a privately owned airline, it would have long crashed.
Although SAA's recovery and growth story is positive, several concerning factors, including its high operating costs, cast enormous doubts on whether the airline is truly profitable.
