Surinam Airways (SLM) has terminated two top executives after an external audit revealed significant financial discrepancies and potential misconduct. Former directors Steven Gonesh and Santosh Baidjoe were dismissed for presenting misleading financial data to President Jennifer Simons, according to Board Chairman Marlon Telting.
The preliminary audit uncovered material inconsistencies between reported figures and actual accounting records. Telting stated that the executives’ presentation of inaccurate financial information compromised the shareholder’s decision-making process. The investigation revealed tens of millions of U.S. dollars in outstanding receivables from debtors—funds that could have sustained operations for nearly a year without state subsidies.
Authorities are investigating why these substantial amounts remained uncollected and why lower revenue figures were reported in official presentations. The findings suggest potential crimes including document forgery, financial statement manipulation, and economic offenses. Specific concerns include possible embezzlement of airport fees collected through ticket sales and discrepancies in a loan agreement with Grassalco that exceeded recorded amounts.
Telting attributed the situation to years of inadequate internal controls at SLM, noting a complete absence of checks and balances within the organization. The dismissed executives were given opportunity to respond to the allegations but failed to provide adequate justification for the discrepancies.
The audit represents merely the initial phase of a comprehensive review. An accountant under contract with SLM will be questioned regarding missing audits that were due in 2024. The supervisory board aims to complete its deepened investigation by late January 2026 before making decisions regarding policy changes and potential partnerships.
Concurrently, the board is restructuring the executive leadership framework, expanding it to four members with specific vacancies for operational and financial directors. Telting acknowledged the dedication of SLM employees who continued working through significant post-COVID measures and recognized that union concerns had previously been insufficiently addressed.
Despite the challenges, Telting clarified that not all SLM operations are loss-making. While the core airline business operates at a deficit, catering, cargo, and other divisions remain profitable, contradicting narratives of comprehensive institutional failure.