New ‘pilot’ set to turn around SAA?

The new CEO at South
Africa Airways (SAA),
Vuyani Jarana, is confident
that the fortunes of the
financially bankrupt
national carrier can be
turned around in five years.
Jarana, who officially took
the hot seat on Wednesday
(November 1) – has outlined
a five-year strategy that
involves reducing the size of
SAA’s f leet by 20%, cutting
back domestic f light routes
by 37%, and consolidating
operations between SAA,
Mango and SA Express.
He welcomed Finance
Minister Malusi Gigaba’s
announcement that
government would
recapitalise SAA with
R13 billion over the next
three years and that it
wanted to find a strategic
equity partner for the
airline.
“We believe a strategic
equity partner can play
an important role in
SAA’s turnaround, as
well as unlocking value
for the fiscus which has
invested significantly in
the airline over the years,”
Vuyani said.
CAPTION
In the hot seat... Vuyani Jarana.