SAA suspends CFO over disciplinary process
State-owned airline South African Airways (SAA) has suspended indefinitely two officials including its chief financial officer, its spokesperson said on Tuesday, over a disciplinary process at the loss-making airline.
CFO Phumeza Nhantsi and the head of the airline's technical unit Musa Zwane were suspended on Monday, the airline's spokesperson Tlali Tlali said, without giving any reasons behind their suspension.
"It's an internal matter that is governed by labour relations and we must observe internal processes. We're not at liberty to give details on that at this stage," he said.
They will remain suspended "until disciplinary processes have been finalised" he added.
Nhantsi and Zwane could not be reached for comment.
Nhantsi was appointed the airline's permanent CFO in May last year after having served as an acting CFO since 2015.
The national airline has been relying on government guarantees to keep it solvent and has been cited by major rating agencies as a threat to South Africa's economy. It received the latest bailout in September.
SAA's CEO Vuyani Jarana said on Monday in a statement on the airline's website, the board has developed and approved a five-year plan to turn the struggling airline around.
Losses at the airline are set to widen to R4-billion ($339-million) in 2017/18 from a previous estimate of R2.8-billion, it said in November, piling further pressure on government finances.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation