Safety belts on at SAA
Crisis-hit SAA has been granted an extension in submitting its audited financial statements in Hong Kong, a move that could allow it to continue flying there. A SAA spokesman said that Hong Kong's registrar of companies had agreed to give the airline until Sept 30 to submit its financials. "This has given us more room to resolve outstanding matters," he said. SAA, which has not reported on its performance in 2 years, must get the Treasury to agree to a ZAR5b govt guarantee before auditors can finalise its annual financial statements. The statements were due to be submitted to the registrar in Hong Kong by Sept 6. Failure to submit them on time would lead to SAA being deregistered there. Banks and other creditors have told SAA that there will be no more loans until its audited financial statements are published. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-09-01/star/safety-belts-on-at-saa
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Safety belts on at SAA
Crisis-hit SAA has been granted an extension in submitting its audited financial statements in Hong Kong, a move that could allow it to continue flying there. A SAA spokesman said that Hong Kong's registrar of companies had agreed to give the airline until Sept 30 to submit its financials. "This has given us more room to resolve outstanding matters," he said. SAA, which has not reported on its performance in 2 years, must get the Treasury to agree to a ZAR5b govt guarantee before auditors can finalise its annual financial statements. The statements were due to be submitted to the registrar in Hong Kong by Sept 6. Failure to submit them on time would lead to SAA being deregistered there. Banks and other creditors have told SAA that there will be no more loans until its audited financial statements are published. <br/>
