Johannesburg - The Organisation Undoing Tax Abuse (OUTA) believes that South African Airways (SAA) has a fighting chance to return to profitability with the appointment of new CEO Vuyani Jarana.
According to OUTA, Jarana’s business scope and executive acumen will be saving grace to the troubled airline.
“Naturally we would have expected the new appointee to have an extensive knowledge of the airline industry, however this is not essential and we have faith in the new CEO’s abilities to rise to the challenge and fix the mess that Dudu Myeni has left the airline in,” says Wayne Duvenage, OUTA Chairperson.
Myeni currently chairs the SAA board and under her management, the airline has needed repeated government bailouts, the most recent being the R2.208 billion bailout handed over in June.
OUTA is concerned about speculation of additional bailouts being needed.
However, Myeni’s term expires on 31 August.
In addition to ensuring the salvation of the airline, OUTA has an ongoing court action to declare Myeni a negligent director and bar her from such positions.
“What this airline needs is the level of talent it once had but, more importantly, it needs courageous people who stood up for South Africa and put their careers on the line to intervene in the plundering and maladministration under Myeni’s watch,” said Duvenage.
- BUSINESS REPORT ONLINE