EDITORIAL: Time is running out for SAA
The immediate task is for SAA executives to get on with the job of stabilising the airline and turning it into one that can survive and compete in the marketplace
Last week’s suspension of two senior executives at SA Airways (SAA) seems to be a continuation of the costly instability that has come to define state-owned entities in the past decade. This could not have come at a more inconvenient time — ratings agency Moody’s is finalising its report on the country’s credit status, and SAA has just started to see some stability after the appointment of Vuyani Jarana as CEO in November.The two executives will face disciplinary hearings on unspecified charges, following a forensic investigation into the airline. The hope is that the suspensions have nothing to do with egos or personality clashes among the executives. Chief financial officer Phumeza Nhantsi, first appointed to the position in an acting capacity in November 2015, had been the contact point for the airline’s lenders, and had been successful (with the backing of the board and government) in getting financial institutions to extend their credit lines to March 2019. Joining Nhantsi in s...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.