Local news reports citing leaked financial statements from South African Airways (SAA) for the year ending March 31 2015 show losses for the year have reached a R4.7 billion (approx. 217 million), which double the prior-year losses of R2.5 billion.
Reports state that revenue was flat while costs rose by R956 million to R31.6 billion, driven mainly by maintenance costs and leasing costs but were impacted most significantly by R1.9bn in impairments.
The airline has stated that these are not their official figures, which will only be released in January 2016.
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