[ALERT] SAA names new CEO

National Treasury has confirmed that new SAA CEO is Vodacom group executive Vuyani Jarana.

Vuyani Jarana. Picture: Vodacom

CAPE TOWN - The Finance Ministry has confirmed to Eyewitness News that South African Airways’ new chief executive officer is Vodacom group executive Vuyani Jarana.

Finance Minister Malusi Gigaba’s spokesperson Mayihlome Tshwete says that Cabinet approved Jarana’s appointment at its meeting on Wednesday.

News of the appointment comes amid reports that SAA has run out of cash and is technically insolvent.

Jarana (46) has headed up Vodacom’s enterprise division since 2012 and was previously its chief operating officer.

He now has the task of ensuring that the country’s national airline does not crash and burn.

Tshwete says that it’s an important step in bringing stability to SAA and turning the state-owned company around.

"His background in the corporate world is well respected. His contribution to Vodacom, specifically in turning around some of its subsidiaries, is well documented and well known."

Gigaba is expected to attend Friday’s meeting of Parliament’s Standing Committee on Finance where SAA will be reporting on its first quarter results, amid indications that the airline has run out of cash.