CAPE TOWN, August 3 (ANA) – Vuyani Jarana, the CEO of Vodacom Business, has been appointed as the new chief executive of troubled national carrier South African Airways, National Treasury announced on Thursday.
Finance Minister Malusi Gigaba said he believed Jarana could successfully implement the agreed turnaround strategy for SAA, given his track record of growing Vodacom Business’s contribution to the group’s revenue by 15 percent in three years.
“Given that Mr Jarana has turned around a loss-making subsidiary of the Vodacom Group, Vodacom Business Africa, into profitable and growth business, we believe he will be key in turning around SAA.”
Jarana would start at SAA as soon as Vodacom released him, the treasury said.
SAA has not had a permanent CEO since November 2015.
The debt-laden airline was due to brief MPs on its first quarterly report on Friday. It emerged this week that the company was technically bankrupt, with a net cash outflow of R568 million in July and that figure expected to rise sharply this month and the next.
The appointment of a permanent CEO was one of the key issues listed in a 14-point action plan released last month.
Gigaba said National Treasury was also making a priority of implementing preferential procurement regulations and engaging other government departments on private sector participation.
– African News Agency (ANA)
