S.A. Express May Make Money This Year, Airline Says

Written by Dana Sanchez

May 21, 2013

Government-owned South Africa Express could make money this year and won’t need the bailout its larger sibling, South African Airways is looking at, its CEO, Inathi Ntshanga, said in a report in Bizcommunity.com.

The airline expects to break even this year after making headlines the past two years for chaotic finances, losing $18.7 million in 2010, the last year for which it can publish audited accounts, according to the article.

In 2012, Public Enterprises Minister Malusi Gigaba asked the auditor general to take over the audit after a battle between the airline and its auditors revealed that the carrier’s accounts were in shambles.

A bailout won’t be necessary, Ntshanga said, referring to possible support for the airline from the state. “We are close to break-even despite the difficulties in the industry.”