South African Airways Delays Release of Annual Report
South African Airways (SAA) has once again delayed the submission of its 2024/25 annual financial report, missing the September 30 statutory deadline set by South Africa’s Public Finance Management Act. Acting Transport Minister Kgosientsho Ramokgopa informed parliament that the delay stems from ongoing audit challenges and a review by the airline’s newly appointed board.
The state-owned carrier said the postponement was necessary to ensure compliance, accuracy, and alignment with governance standards. The new SAA board, appointed in August 2025, reportedly requested additional time to review key financial disclosures before finalizing the audit. Ramokgopa noted that the report is now expected to be tabled by the end of November.
This marks the latest in a series of reporting delays for SAA. The airline has missed multiple deadlines in recent years, with some reports outstanding for over four years due to its lengthy business rescue process between 2019 and 2021. Last year, SAA also faced a delay after a dispute with the Auditor General over accounting for revenue from expired tickets.
Despite the ongoing audit issues, SAA has shown signs of financial recovery. The carrier posted its first profit in over a decade—ZAR252 million (USD14.7 million)—for the 2022/23 fiscal year and now operates without state guarantees. Transport Minister Barbara Creecy previously said SAA is funding its operations and fleet expansion independently while remaining open to securing a strategic equity partner to strengthen its long-term sustainability.
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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com