SCOPA hears SAA was given R38.1 billion by government as a bailout
South Africa woke up to shocking news after hearing that SAA received R38.1 billion bailout but still need more to take off.
It was also revealed that R44.5 billion has been recorded as the airline's wasteful expenditure.
This was told by the Auditor General to the Standing Committee on Public Accounts (SCOPA) yesterday.
Citizens wasted no time and took to social platforms lambasting the airline for wasteful expenditure. Many suspect that the business rescue porcess is used to channel monies to some faceless businesses and individuals.
The South African Airways (SAA) has received significant government bailouts totaling R38.1 billion since 2018, according to the Auditor-General. Despite this financial support, SAA's financial performance remains troubled, with a backlog of audits and increasing irregular expenditure.
The Passenger Rail Agency of South Africa (PRASA) is also facing financial challenges, with a R14 billion irregular expenditure and other financial irregularities.
The Standing Committee on Public Accounts (SCOPA) has expressed concerns about the financial management of both SAA and PRASA and has called for government intervention.
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