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Vodacom COO Vuyani Jarana to revive loss-making South African Airways
SOUTH AFRICA's National Treasury has confirmed the appointment of Vodacom executive Vuyani Jarana as the new CEO of state-owned South African Airways, reports Bloomberg.
The debt-heavy flag carrier 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 Bank.
Said Finance Minister Malusi Gigaba: "We believe he will be key in turning around SAA."
SAA is one of several state owned companies that are in disarray and face massive losses.
Mr Jarana was previously the chief operating officer of the Johannesburg-based wireless carrier and has been the head of its enterprise division since 2012.
The debt-heavy flag carrier 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 Bank.
Said Finance Minister Malusi Gigaba: "We believe he will be key in turning around SAA."
SAA is one of several state owned companies that are in disarray and face massive losses.
Mr Jarana was previously the chief operating officer of the Johannesburg-based wireless carrier and has been the head of its enterprise division since 2012.
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