Johannesburg – The Airports Company South Africa (ACSA) has rejected reports that it faces liquidation over unpaid debts running into millions of rand.
Responding to reports that a service provider has applied for the company’s liquidation for failing to pay for services rendered, ACSA said it was in “a position to pay the amount subject to the liquidation proceedings if the claim is verified to be legitimate”.
The reports also suggested that ACSA owes more than R550 million excluding interest on statutory increases owed to service providers.
The reports allege ACSA has “locked these service providers in arbitration processes and gagged them from any other recourse”.
However, ACSA denied it owes security service providers more than R550 million, but acknowledged receiving claims that “still need to be verified of R126m, which are subject to the arbitration process”.
ACSA added: “The application for liquidation has no prospects of success as ACSA is able to pay its debts as and when they arise”.
The airports company said it has not received notice of other liquidation proceedings as reported.
ACSA added: “Service providers presuming to have claims against ACSA do not have the effect of creating liability in ACSA’s books, as these claims – if any – are contingent on whether the claim is disputed and or whether the claim is verified and payable to the service provider”.
ACSA said the “mere existence” of a claim from a service provider does not translate to a contingent liability or even grounds for liquidation.
“Filing a liquidation application does not mean that the application has merit and that ACSA cannot pay its debts as they arise,” ACSA said.
“The application for liquidation is a vexatious and malicious attempt to coerce ACSA into paying unverified amounts.”
The disputed reports also said service providers “have allegedly engaged” the ACSA CEO Mpumi Mpofu and the Board since 2021 to no avail.
Further, the reports say, “it appears the recent announcement of ACSA company profits is grossly overstated and may mislead shareholders and banking institutions”.
However, ACSA said it “strongly rejects” the allegation that its financial statements are “fake.”
ACSA added: “The financial statements of 2023/24 were independently audited by the Auditor General of South Africa (AG), and an independent audit opinion was issued confirming ACSA’s financial statements present fairly in all material respects the financial position of the Group and financial performance and cash flow for the year ended in accordance with the financial standards, Public Finance Management Act and Companies Act”.
ACSA said it views these claims as highly irresponsible and sensationalist to air such inaccurate and misleading statements with the obvious intention of causing panic among travellers and customers.
“ACSA will respond to these legal proceedings in due course; however, it does not plan to litigate these matters in the public domain,” the company said.
“ACSA would like to reassure the public that there is no cause for concern and operations will continue as normal.”
