# 45th Board Meeting — Source Audit (NBLM)

**Notebook:** FlySafair 45th Board Meeting - May 2026
**ID:** 2cd5e1f8-723e-4dab-b28f-4e8201fad552
**Generated:** 2026-05-09

## Inconsistencies

| # | Topic | Report A | Report B | Likely cause | Severity |
|---|---|---|---|---|---|
| 1 | Regulatory/enforcement | CEO: IASC breach pending, DASC interdict, SACAA ZS-SJI ELT investigation | Legal: "all licences current and compliant" | Legal report stale or under-reporting | **H** |
| 2 | Active aircraft count | CEO Exec Snapshot: 38 active | CEO Operations: 35 active | Internal CEO draft contradiction | M |
| 3 | B737-400 fleet | CFO: ZS-DMI sold Feb 2026, ZS-OAF only remaining | Legal insurance: lists ZS-JRM + ZS-OAF (no DMI mention) | Asset register vs insurance schedule misaligned — premium leakage risk | **H** |
| 4 | AOG ZS-FGF | CEO: AOG in CT, fuel tank ruptured by step collision | Legal: not listed under ground handling/major claims | Legal claims register missing material incident | **H** |
| 5 | March Load Factor | CEO Exec Snapshot: 89.7% | CEO Competitor table: 87.2% | Different metric (flown vs booked) or stale placeholder | **H** |
| 6 | Pilot attrition/hiring | CEO Risks: 7 terminations YTD, 61 starters | CEO People: 6 terminations YTD, 49 placements | Internal CEO draft contradiction | M |
| 7 | Flight deck vacancies | CEO Risks: 15 active FO vacancies (JNB) | CEO People: 23 vacancies, 17 FOs all bases | Geographic filter / date pulled inconsistently | M |
| 8 | NPS | Sales: Mar +70.3, Feb +72.3 (final) | CEO: Mar n/a, Feb 75.1% (placeholder) | CEO using outdated extract | M |
| 9 | OTP March | Sales: 92.3% | CEO: 92.5% | ACSA system vs internal calc | L |
| 10 | Q1 flights | CFO: 15,941 | CEO: 15,938 | Dataset cutoff mismatch (3 flights) | L |

## Cross-cutting issues

- **Reporting window mismatch:** Sales/Legal/IT/HR cover Nov 2025–Mar 2026 (5mo); CFO covers FY25 YTD-Dec + Q1 FY26. Sales R7.44bn (5mo) vs CFO R3.2bn (Q1) cannot be cleanly compared.
- **Market share definitions:** BSP share ≠ market share (Sales own caveat); CEO uses 42.6% forward-capacity seat share AND 63.2% ACSA passenger share — different denominators.
- **TRAX MRO go-live:** IT plans Q2 sign-off; CEO says delayed to Sept 2026.
- **IFRS 16:** CFO body uses pre-IFRS 16 (Q1 PAT R155m profit). Annexure IFRS 16 view shows R111.8m PAT loss (R219.2m FX on USD lease liability). Massive headline swing buried in annexure.

## Top 5 to fix before meeting

1. **Reconcile Legal report with regulatory/enforcement risks** (H) — Legal must reflect IASC breach, DASC interdict, SACAA ZS-SJI investigation
2. **Audit fleet + insurance registers** (H) — three different fleet snapshots; phantom ZS-JRM in insurance; missing ZS-FGF AOG claim
3. **Correct CEO report internal contradictions** (H) — Load Factor 89.7% vs 87.2%, flight deck hiring numbers inconsistent
4. **Update CEO NPS data** (M) — replace placeholder with final Sales figures (+70.3 Mar, +72.3 Feb)
5. **Standardise reporting windows** (M) — align department reports to Q1 FY26 cutoff for clean board benchmarking

Generated 2026-05-09 via NotebookLM (NB 2cd5e1f8-723e-4dab-b28f-4e8201fad552, FlySafair 45th Board Meeting - May 2026)