SAA appoints Vuyani Jarana as new CEO
Jarana’s appointment comes in the wake of reports that SAA has run out of cash and is technically bankrupt.
SAA aircraft. Picture: Supplied.
Beleaguered state-owned airline South African Airways (SAA) has appointed Vodacom Business CEO Vuyani Jarana as its CEO, National Treasury announced on Thursday.
In a statement, Treasury said Jarana would commence his duties after his current employer officially released him. He has held his position at Vodacom since 2012.
Finance Minister Malusi Gigaba congratulated Jarana on his appointment.
“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,” he said.
Jarana’s appointment comes in the wake of reports that SAA has run out of cash and is technically bankrupt, with fears that the national carrier may not be able to pay salaries.
On Wednesday cash-flow analysis provided by SAA to MPs reportedly showed that the company went into a negative cash position in July when it had a net cash outflow of R568 million.
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