JOHANNESBURG – The board of South African Airways (SAA) and its executive management is currently briefing the media on the state-owned airline’s current and future plans in light of Vuyani Jarana’s resignation as CEO.
On Thursday, the leadership of the airline in a statement said it would hold a briefing to put certain matters into perspective and assure its customers, the markets and stakeholders about business continuity and commitment to the implementation of the airline strategy.
WATCH the live briefing below:
Jarana tendered his resignation last week as group chief executive, citing the airline’s mounting debt due to uncertainty about funding and lack of support from government as a shareholder in implementing the airline’s long-term turnaround strategy.
In his leaked resignation letter, Jarana said that a big chunk of the R5 billion bailout SAA received from government for the 2018/19 financial year had been used to pay creditors up to the end of March 2018, to the point that the airline on three occasions was on the brink of not paying salaries.
BUSINESS REPORT ONLINE