Suriname Airways (SLM) is facing a financial crisis far more severe than previously disclosed, with its chairman Marlon Telting describing the national carrier as “society in intensive care requiring 24-hour monitoring.” In an exclusive interview with Starnieuws, Telting revealed that the airline’s actual debt position dramatically exceeds the publicly circulated figure of approximately $80 million, though the precise amount remains undetermined.
The newly appointed Board of Commissioners, installed in September, faces the daunting task of unraveling the company’s true financial status. Telting emphasized the alarming revelation that SLM’s most recent annual report dates back to 2016, indicating years of financial opacity. The board has commissioned a preliminary assessment to establish the current financial and operational standing, with interim findings suggesting urgent restructuring needs and matters requiring immediate attention.
Telting disputed the accuracy of previously presented financial figures, noting significant discrepancies with the company’s actual accounting records. While a recovery framework document exists, the chairman clarified it lacks essential components to initiate a genuine turnaround strategy. The board must first establish a complete picture of SLM’s situation before developing a realistic recovery plan.
Regarding leadership changes, Telting defended the appointment of new CEO Johan Sadie as a statutory nomination rather than a political appointment. Sadie, a seasoned SLM insider with previous temporary director experience and roles in commercial operations, received enthusiastic applause from staff upon his introduction. Former interim director Steven Gonesh, who had expressed disinterest in the permanent CEO role since October last year, returns to his previous position as deputy director of Operational Affairs and Accountable Manager. Several other directorial vacancies will be filled through open recruitment processes.