UPDATE 3-South African Airways CEO quits over lack of state support [Reuters (UK)]
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Source: Reuters
South African Airways CEO quits over lack of state support - Reuters 4 Min Read JOHANNESBURG (Reuters) - South African Airways’ CEO Vuyani Jarana has resigned after less than two years in the job, saying his turnaround strategy for the loss-making airline was being undermined by a lack of state funding and too much bureaucracy. The airline said in a statement late on Sunday that its board had accepted Jarana’s resignation. In a resignation letter dated May 29, seen by Reuters, Jarana told the chairman of the airline’s board that there was a lack of progress on implementing the group’s strategy. “The strategy is being systematically undermined, and as the Group Chief Executive Officer, I can no longer be able to assure the board and the public that the LTTS (long-term turnaround strategy) is achievable,” Jarana said in his resignation letter. His departure highlights the challenges facing South African President Cyril Ramaphosa as he seeks to speed up reforms at South African Airways (
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