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Your email address will not be published.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, editor and proofreader for 53 years, and ITTN's News & Features Editor for 43 years. His travel blog is at www.thetravelbuddhist.com.

More in News

Cabinet to Tighten Travel Restrictions

Fionn DavenportJanuary 26, 2021

Irish Agents in Top 50 in Ireland & UK

Fionn DavenportJanuary 26, 2021

Kerry Airport installs state-of-the art scanner

Michael FloodJanuary 26, 2021

W Hotel Debuts in Portugal with Algarve Opening

Fionn DavenportJanuary 26, 2021

Become a Madeira Islands Specialist and You Could Win A Place on a Future Madeira FAM Trip!

Fionn DavenportJanuary 26, 2021

Travel in 2021: Will We or Won’t We?

Fionn DavenportJanuary 26, 2021

G Adventures Bolsters European Product with Eight New Trips for UK and Irish Travellers

Fionn DavenportJanuary 26, 2021

Toronto, Istria and Wakayama Tops in Lonely Planet Reader’s Choice Awards

Fionn DavenportJanuary 26, 2021

Hays Travel to Close 89 Shops Across UK; Northern Ireland Next?

Fionn DavenportJanuary 26, 2021

Copyright © 2021 ittn