New SAA interim CFO tasked with transforming loss-making airline
South African Airways has appointed Deon Fredericks as interim CFO, with the aim of finding a permanent replacement within 12 months. Fredericks, who will take up the new role Oct 15, succeeds interim CFO Robert Head, whose contract expired Sept 30. Fredericks is joining SAA on a 12-month secondment from 39% state-owned South African telecommunications provider Telkom. SAA chairman Johannes Bhekumuzi Magwaza said this appointment will “ensure that SAA’s strategic objective of transforming the business into a financially sustainable aviation group is achieved.” Last month, loss-making SAA said it has “enough” access to working capital and will not file for bankruptcy. The airline claimed a “material improvement” to its Q1 performance, with some routes delivering their first profits in more than a decade. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-10-09/star/new-saa-interim-cfo-tasked-with-transforming-loss-making-airline
https://portal.staralliance.com/cms/logo.png
New SAA interim CFO tasked with transforming loss-making airline
South African Airways has appointed Deon Fredericks as interim CFO, with the aim of finding a permanent replacement within 12 months. Fredericks, who will take up the new role Oct 15, succeeds interim CFO Robert Head, whose contract expired Sept 30. Fredericks is joining SAA on a 12-month secondment from 39% state-owned South African telecommunications provider Telkom. SAA chairman Johannes Bhekumuzi Magwaza said this appointment will “ensure that SAA’s strategic objective of transforming the business into a financially sustainable aviation group is achieved.” Last month, loss-making SAA said it has “enough” access to working capital and will not file for bankruptcy. The airline claimed a “material improvement” to its Q1 performance, with some routes delivering their first profits in more than a decade. <br/>
