Former Minister of Tourism Derek Hanekom is the new interim chairperson of South African Airways (SAA), while the previous interim chair John Lamola will remain as interim CEO and director.
The state-owned airline’s shareholder, the Department of Public Enterprises (DPE) announced the appointment of an interim board of directors on Monday afternoon.
“[Hanekom’s] experience in fostering collaboration between government and private sectors will be invaluable in guiding SAA through its restructuring and revitalisation,” says the DPE.
The other interim directors are finance professional Fathima Gany, former Airports Company of SA (ACSA) chief operating officer Fundi Sithebe, finance and business strategist Mahlubi Mazwi, corporate and compliance lawyer advocate Johannes Weapond, financial and corporate restructure expert Clarissa Appana, and economist and strategist Dumisani Sangweni.
The interim board will serve until the airline’s chosen strategic equity partner, the Takatso Consortium, becomes involved.
Takatso has made it clear that it will not take up the agreed 51% stake in SAA until all historic debt of the airline has been settled.
Despite SAA getting R1 billion in Budget 2023 to settle historic debt, the DPE estimates about another R2.5 billion is needed for that purpose.
“To support SAA in achieving its goals, we have put in place strategies and plans that align with the airline’s vision and objectives,” Minister of Public Enterprises Pravin Gordhan says in the statement.
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