South African Airways CEO Vuyani Jarana resigns – report

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SAA Group CEO Vuyani Jarana
By :

AT Team

JOHANNESBURG – South African Airways (SAA) Chief Executive Officer Vuyani Jarana has resigned from the state-owned airline, reports said on Sunday.

Citing Jarana’s resignation letter to SAA board chairperson Johannes “JB” Magwaza, the letter revealed uncertainty relating to funding the airline. Jarana was also unhappy with the entire decision making processes at the airline which is affecting its prospects.

“Strategy is being systemically undermined, and as the Group Chief Executive Officer, I can no longer be able to assure the board and the public that the LTTS (long term turnaround strategy) is achievable,” part of Jarana’s resignation letter is quoted to have stated.

The South African government has for years now been considering a 13 billion rand ($972 million) bailout to keep South African Airways (SAA) alive.

In 2017 the national carrier was given state funds to help it repay debts.

At the time the airline said in a financial plan that it was not generating enough revenue. But it expected to turn a profit in 2019.

In his letter, Jarana is also quoted to have said “We have not been able to obtain any further commitment from government making it very difficult to focus on the execution of the strategy.”

Jarana was appointed chief executive of the embattled national carrier in August 2017, replacing Musa Zwane, the company’s chief technical officer who was acting in the position since 2015.

He has however, requested to stay on for a three-month notice period until August 31, 2019.

SAA was not immediately available for comment.

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