JOHANNESBURG - South African Airways (SAA) is broke, the national carrier says a pending strike will make the situation even worse, costing the airline R50-million a day.
Two unions are threatening what they're calling the 'mother of all strikes'.
SAA appeared before Parliament on Wednesday to explain why it hasn't tabled annual financial statements for the past two years.
The airline received R5.5-billion from state coffers this year alone.
SAA says liquidating the airline, or placing it under business rescue, will be catastrophic.
“If you issue that disclaimed opinion from the auditors, the fuel suppliers will pull their facilities. That's R580-million I have to find tomorrow. No flights will take off,” said SAA's acting chief financial officer Deon Fredericks.
MPs say they can't accept SAA's financial woes as a reason not to table financial statements.
SAA will now have to go back to the drawing board to thrash out a plan so it can table the long-awaited financial statements.
Scopa wants the board to return to Parliament in two weeks' time along with the Public Enterprises Department, National Treasury and the Auditor-General with that roadmap for complying with the law.