South Africa appoints Jarana to turn around unprofitable SAA

South Africa’s National Treasury confirmed the appointment of Vodacom Group executive Vuyani Jarana as the first permanent CE of South African Airways since Nov 2015. Jarana will take the helm at the carrier when Vodacom releases him of his duties, the Treasury said Thursday. The debt-laden airline has failed to make a profit since 2011 and was handed a bailout last month after National Treasury transferred funds to help it avoid a default on its debt to Standard Chartered. Finance minister Malusi Gigaba said that the assistance given to SAA, was dependent on naming a new CE and for the airline to implement a “strict” turnaround strategy. “We believe he will be key in turning around SAA” given how he improved the performance of the Vodacom Business Africa unit, Gigaba said Thursday. <br/>