The new board of South African Airways (SAA) appeared before the Standing Committee on Finance in Parliament yesterday (29 November 2017) to present its quarterly report.
The Chairperson of Standing Committee on Finance, Mr Yunus Carrim, welcomed the presentation and the responses of the newly appointed board to questions from Committee Members. He wished the new Board well.
He told SAA Chief Executive Officer (CEO) Mr Vuyani Jarana to work closely with the Standing Committee and to take advantage of its recommendations.
“We want to congratulate you, Mr CEO, and the new board on your appointments. We as Members of Parliament will assist you in the implementation of your turnaround strategy. We understand that you are not experts in the aircraft industry. There are experts in this industry which we must use,” Mr Carrim said.
Mr Jarana assured the Committee of the new SAA leadership’s commitment to improving the situation at the airline, although much work was required to achieve this. Priorities are the repayment of loans, improved liquidity and the stimulation of revenue to recapitalise the business.
Committee Members encouraged the Board to restore stability at the airline. They told Mr Jarana to report to the Committee regularly and consistently. The turnaround strategy must not be prolonged, they said.
While assuring the Board of their support, Committee Members encouraged the Board to bring in young people with a fresh perspective to take the airline to new heights.
30 November 2017