South African Airways has appointed Zuks Ramasia as its interim CEO.
In a televised press conference held on Friday (7 June), the struggling airline said that Ramasia would be taking over from former CEO Vuyani Jarana while the company finds a permanent replacement.
Ramasia had previously held the role of general manager of operations.
Jarana officially tendered his resignation in a private board meeting on Thursday (30 May) however, his resignation letter was leaked to the press on Saturday.
In the letter, the CEO unpacked how uncertainty about funding and slow decision-making processes were delaying the airline’s turnaround strategy.
“The strategy is being systemically undermined, and as the group chief executive officer, I can no longer be able to assure the board and the public that the LTTS is achievable,” he said.
“Whereas government injected R5 billion of funding in the 2018/2019 financial year, a big chunk of that was used to fund creditors up to the end of March 2018.
“We have not been able to obtain any further commitment from government making it very difficult to focus on the execution of the strategy,” Jarana said.