News

SAA Requests State Funding, Appoints Interim CEO

SAA Requests State Funding, Appoints Interim CEO

South African Airways (SAA) appointed its head of operations as acting chief executive on Friday and said it needs four billion rand (€236 million) from the government to survive the current financial year.

Zukisa Ramasia becomes Interim Chief Executive after Vuyani Jarana unexpectedly resigned at the end of May after less than two years in the job, saying his turnaround strategy was being undermined by a lack of state funding and too much bureaucracy.

Zukisa, who has more than 25 years’ experience in aviation, will start her new role on Monday after Vuyani indicated that he will no longer serve a notice period.

SAA has started searching locally and globally for a permanent CEO to stabilise the airline and oversee the implementation of the long-term turnaround strategy.

SAA has not made a profit since 2011 and Vuyani Jarana launched a revised five-year turnaround plan that includes slashing costs and cancelling unprofitable routes, requiring around 21.7 billion rand (€1,28 billion) in cash injections from the government.

Click to add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

NEIL STEEDMAN has been a trade journalist, copywriter, editor and proofreader for 52 years, and News & Features Editor for ‘Irish Travel Trade News’ for the past 42 years.

More in News

Marriott International Officially Opens Aloft Dublin City

Neil SteedmanJune 17, 2019

Hertz Launches My Hertz Weekend Car Rental Subscription Service in Italy

Neil SteedmanJune 16, 2019

Children Go Free with Stena Line to Britain

Neil SteedmanJune 14, 2019

Airbnb Launches New Adventures Product

Neil SteedmanJune 14, 2019

Ryanair to Acquire Malta Air Operator Certificate with Purchase of Malta Air

Neil SteedmanJune 13, 2019

ITTN’s Great Value Travel Deals – 13th June 2019

Neil SteedmanJune 13, 2019

Wendy Wu Appoints Head of Group Sales and Partnerships

Neil SteedmanJune 13, 2019

New Eurowings Flight Platform Introduces Principle of ‘Virtual Interlining’

Neil SteedmanJune 13, 2019

WestJet Rewards Introduces ‘Buy Business, Get Gold’ Offer

Neil SteedmanJune 13, 2019

Copyright © 2019 Belgrave Group Limited, C4 Nutgrove Office Park, Nutgrove Avenue, Rathfarnham, Dublin 14, Ireland