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Jarana: SAA can’t carry out turnaround plan without urgent funding
Parliament heard on Thursday that SAA is still struggling to achieve going concern status, amid a dire shortage of skills to effect its turnaround plan.
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SAA still ‘far down the line’ on equity partner discussions
In addition to the money needed to fund its turnaround plan, the airline also has to pay its lenders R9.2 billion by March.
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SAA confirms loss of R5.7bn over past financial year
SAA says lower passenger numbers and the strengthening of the rand against the dollar, as well as the overall negativity of current movements, have contributed to the losses.
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Parly meeting to discuss SAA's financial results cancelled after parties clash
Wednesday’s meeting was originally scheduled to be closed to the public and the media, which is not the usual practice when the airline presents its quarterly financial reports.
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Jarana: SAA to get R5 billion capital injection after plea for cash
SAA has not generated a profit since 2011 and has already received state guarantees totalling nearly R20 billion.
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SAA in talks with Treasury, banks for fresh cash injection
SAA CEO Vuyani Jarana says the R10 billion bail out from government last year eased SAA’s financial position somewhat, but that it needs more money.
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‘Cash-strapped SAA urgently needs fresh cash boost to keep going’
CEO Vuyani Jarana told MPs that of the R10 billion cash injection SAA was given last year, R7.6 billion went to repay loans and R2,4 billion was used for operating costs.
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Does SAA know extent of theft, fraud?
MPs wanted to know if there’d been consequences for theft & fraud made possible by weak security and stock-control systems. SAA board chairperson says they are still receiving tip-offs about wrongdoing.
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Jarana: SAA still has outstanding debt of over R9bn
Jarana says the R10 billion cash injection from the government last year eased the airline’s financial situation somewhat, but he says its balance sheet remains very weak.
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SAA losses snowball, state outlines revival
SAA, which has not generated a profit since 2011, is regularly cited by rating agencies as a drain on the government’s purse.
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Jarana: SAA's decision to cut routes a tactical move
SAA CEO Vuyani Jarana says the airline will be scaling back on routes that are not profitable until such time as it can compete in the market again.
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Lack of cash, critical skills hindering SAA’s turnaround plan
SAA chief executive officer Vuyani Jarana says revenue management at the airline is poor and the airline’s bad public image is affecting its ability to attract critical skills.
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SAA projects loss of R4 billion by March 2018
New CEO Vuyani Jarana and board members briefed Parliament’s Standing Committee on Finance for the first time on Wednesday.
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Jarana: SAA's outstanding debt stands at R13.8 billion
New SAA CEO Vuyani Jarana says SAA will still be about R9 billion in the hole even after the government’s R10 billion bail out is fully paid by the end of March next year.
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[LISTEN] New SAA CEO Vuyani Jarana ready for challenge
Vuyani Jarana, South African Airways' brand-new CEO, says that heading up the airline is a good challenge to tackle and he is honoured to have been called up for the post.
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Gigaba: New SAA CEO tasked with regaining public confidence
The airline recently received a bailout of over R3 billion to repay a loan to Citibank.
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Gigaba: Many interested in equity stake in SAA
SAA relies on government guarantees to keep it solvent and has been repeatedly cited as a threat to South Africa’s public finances.
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New SAA CEO Jarana to focus on cutting costs, making profits
Vuyani Jarana’s appointment has been widely welcomed after Dudu Myeni’s term came to an end last month.
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[LISTEN] 'Vuyani Jarana will take SAA to greater heights'
Finance Minister Malusi Gigaba says the newly appointed SAA CEO Vuyani Jarana’s appointment will resolve the fundamental issues at the airline.
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'I believe SAA is going to be turned around'
Malusi Gigaba suggests that this will soon end with the appointment of the new CEO Vuyani Jarana.
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Gigaba: Jarana has what it takes to turn SAA arround
The 46-year-old Vuyani Jarana will start work as SAA’s new CEO as soon as he’s released by the Vodacom Group.
