Picture: THE TIMES
Picture: THE TIMES

South African Airways (SAA) said on Wednesday that it has appointed Phumeza Nhantsi as permanent chief financial officer. The appointment is effective from May 1, with Nhantsi having served in an acting capacity since November 2015, SAA said in a statement.

SAA is expected to announce group financial losses of about R5bn for the 2016-17 financial year, and is in the midst of an ongoing restructuring exercise. The airline is also finalising the appointment of a new CEO — which was expected to be done by mid April.

The airline has not responded to requests for comment on the status of this appointment, but Finance Minister Malusi Gigaba was reported as telling Parliament on Tuesday that a final round of interviews for the position was underway.

SAA acting CEO Musa Zwane said on Wednesday that stabilisation of finances and filling vacancies remain the current priorities of the airline: "This is one such key appointment for the airline to ensure that SAA’s strategic objective of transforming the business into a financially sustainable aviation group is achieved."

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