The airline has just reported a loss of R990m for the 2012/13 financial year, an improvement from a loss of R1.3bn in the prior year.
Interesting article detailing the facts. SAA has cost SA tax payers more than 15 Billion rand over the last ten years. To put this in perspective – even this out at a Billion a year to keep it flat means that this could have built homes for 16 700 families or for something more real to parliament would have built 4 Nkandla strong holds! The bottom line is I believe that SAA is an embarrassment for the country, it is muscling out competition and low cost airlines with it’s strong hold all the while being held afloat by tax payers. Greed and corruption is one thing, we talk of nationalizing mines and the likes while we have a failed white elephant. SAA why have you not made your turn around plan public ? Why a 12 year turn around plan ? Personally I believe this is an elaborated stalling tactic to buy time and not be held accountable for turning the airline around like it should be given the right team, passion, knowledge and stakeholders.