Right of reply: ‘Tongue-in-cheek commentary on SAA doesn’t reflect facts’

Tabling of the 2024-25 financial results of SAA marks a milestone for the airline in its recovery efforts. Picture: Gallo Images/Darren Stewart South African Airways (SAA) respects the vital role of editorial media in holding state-owned enterprises to account. We welcome scrutiny of our operations and contribution to the economy.

It is regrettable, however,The Citizen‘s report on a matter of serious public interested (sic), the national flag carrier’s recent financial results announcement on 10 February, 2026, shifted from analysis to a “tongue-in-cheek” commentary that did not reflect the facts presented. The tabling of the 2024-25 financial results of SAA marks the successful conclusion of a concentrated effort to clear the airline’s historical financial reporting backlog. Even before going into business rescue in 2022, SAA had a problem of unclosed external audits.

The new leadership since the airline’s emergence from business rescue in 2021 have worked hard and successfully to clear this backlog of legacy audits. This AFS in question were completed and presented to the SAA board in August 2025, but the AGM was only held at the end of January this year due to diary complexities and the fact that a new board of directors was installed in August 2025. SAA was able to achieve the board-approved AFS within the legislated six months from the close of the financial year in March 2025.

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Contrary toThe Citizen‘s report, SAA has received no shareholder funding (“taxpayer bailouts”) for operations since exiting business rescue in 2021. In 2024-25, SAA generated R8.838 billion in revenue, a 35.89% year-on-year increase. At year-end, SAA’s cash and cash equivalents stood at R1.967 billion, with total equity of R6.649 billion.

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