JOHANNESBURG - The board of South African Airways (SAA) and its executive management will on Friday take the nation into their confidence about the state-owned airline's current and future plans in light of Vuyani Jarana's resignation as CEO.
In a terse statement on Thursday, the leadership of the airline said it would like 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.
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.
"We have not been able to obtain any further funding commitment from government, making it difficult to focus on the execution of the strategy," Jarana said.