17:24
South African Airways CEO, Siza Mzimela / Image via sabc.co.za
South African Airways (SAA) will begin searching for a new chief
executive after its CEO Siza Mzimela quit today, the office of Public
Enterprises Minister Malusi Gigaba said.
Reuters reports that the chief executive of South African Airways has
stepped down just days after Pretoria guaranteed massive loans for the
struggling state-owned airline.
According to Reuters, the government promised last week to guarantee
$600 million in loans for the airline, a move that could put further
pressure on an already strained national budget.
South Africa's state-owned companies, including SAA and national
broadcaster SABC, have come under fire for what critics say is excessive
spending of taxpayer money.
Source: Reuters
