South Africa seeks more time to decide on state airline guarantee

South African finance minister Pravin Gordhan asked for more time to consider South African Airways’ request for a going-concern guarantee that the unprofitable airline needs to finalise its annual financial statements. Gordhan asked the Speaker of Parliament to approve a 1-month extension for submission of the carrier’s annual report and financial statements until March 15, the National Treasury said Tuesday. Parliament’s finance committee asked the minister to submit an interim report on the airline by the end of February, said chairman, Yunus Carrim. SAA, which has been surviving on about US$890m of govt debt guarantees, last posted a full-year profit in 2011 and has yet to finalise its financial statements for the year through March 2015. The company requested a further guarantee from the National Treasury Dec 21. <br/>