(Getty Images/Silas Stein)
South African Airways (SAA) has announced the appointment of a permanent chief executive after its deal with the Takatso Consortium as its strategic equity partner (SEP) collapsed last month.
Public Enterprises Minister Pravin Gordhan said in March that the deal, which was first announced in 2021, fell through as the government decided to revalue its assets and operations. The deal included the sale of 51% of SAA shares for R51 and a capital injection of R3 billion in the form of a shareholder loan by Takatso.
The airline said in a statement on Monday that it had begun recruiting permanent employees to ensure stability at the airline, after appointing interim executives until the transaction with Takatso was completed.
Advertised roles include CEO, Chief Commercial Officer, Chief Human Capital Officer, Technology CEO and Chief Executive Officer of its catering services subsidiary Airchefs.
“The interim management team will lead the airline out of business rescue with the understanding that it will remain in an interim position until a new controlling shareholder appoints a management team,” Interim Board Chairman Derek Hanekom said in a statement. It was beautifully rebuilt.” They, including Interim CEO Professor John Lamola, support the development as a necessary and natural step in strengthening SAA's position in the national and international aviation markets. ”
Lamola was appointed interim CEO in May 2022 after former interim CEO Thomas Kgokolo left the company a month earlier. Mr Kgokolo was appointed interim CEO after SAA withdrew from business rescue in April 2021.
The company recently launched several international routes to Brazil and Australia, including trips from Cape Town and Johannesburg to São Paulo and from Johannesburg to Perth. However, the company's financial performance has been poor since the National Treasury reported a loss of R771 million in December last year.
