DEPARTMENT: PUBLIC ENTERPRISES
REPUBLIC OF SOUTH AFRICA
QUESTION FOR WRITTEN REPLY
QUESTION NO.: 177
DATE OF PUBLICATION: 22 February 2013
177. Dr G W Koornhof (ANC) to ask the Minister of Public Enterprises:
Whether the financial statements of Mango for the 2011-12 financial year
will be made public; if not, why not; if so, what are the relevant details?
According to South African Airways (SAA):
Mango, as a subsidiary of SAA, reports its annual financial results in the
consolidated Annual Financial Statements of the SAA Group. This manner of
consolidated reporting is aligned with the remainder of the SAA Group, as
well as to the consolidated reporting of other Schedule 2 SOCs; and is also
on par with the disclosure level of JSE listed entities such as Comair. A
level of disclosure beyond that of direct competitors places the entity at
a commercial disadvantage within a highly competitive market.