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.