New CEO Jarana must stem the bleeding of SAA cash flow - Guy Leitch

The newly appointed CEO of the South African Airways, Vuyani Jarana will take on a huge task, as he is expected to implement an "aggressive" turnaround strategy if the national carrier is to overcome its financial woes.

Finance Minister Malusi Gigaba on Friday morning told Parliament's finance committee that the national carrier is facing financial challenges of a short to medium nature.

SA Flyer Magazine's Guy Leitch says Jarana will need to have his presence felt early enough to turn SAA around.

It's had seven CEO's in the past five or so years and the airline is in fact in grave crisis at this stage. We have seen financials presented this morning I believe that says it is bleeding up to R 9 million a month in cash...

Guy Leitch, Editor of FlySA Magazine

READ: Fundamental problem with SAA is how it has been lead - Gigaba

He is obviously got to stem the bleeding in terms of cash flow.

Guy Leitch, Editor of FlySA Magazine

Meanwhile members of the National Union of Metal Workers of South Africa (Numsa) and SA Cabin Crew Association organised a march against what they say are poor working conditions at SAA and corruption in the company.

Numsa spokesperson Phakamile Hlubi, says reports of corruption, as well as the carriers financial troubles have negatively impacted workers.

The National Union of Metal Workers of South Africa together with the South Africa Cabin Crew Association teamed up early this morning to march to the headquarters of SAA technical to hand over a memorandum.

Phakamile Hlubi, spokesperson

Our members are suffering under the burden of ever worsening working conditions and of course low pay.

Phakamile Hlubi, spokesperson

Click on the link below to listen to the full audio....


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