SAA appoints new CFO, OUTA objects

National carrier South African Airways (SAA) has appointed Phumeza Nhantsi as its new permanent CFO. According to a statement by SAA, Nhantsi has served in an acting capacity since November 2015, following Wolf Meyer’s departure.

Musa Zwane, SAA acting CEO, has said that stabilisation of finances and filling vacancies are the airline's top priorities at the moment. He said:

"This is one such key appointment for the airline to ensure that SAA's strategic objective of transforming the business into a financially sustainable aviation group is achieved."

The Organisation Undoing Tax Abuse (Outa) is, however, expected to announce steps to block Nhantsi's appointment. This is based on evidence implicating Nhatsi in a debacle that involved the cancellation of SAA's deal with BnP Capital to restores its R15 billion in debt.

Prior to joining SAA, Nhantsi was a director at SizweNtsalubaGobodo (SNG), the largest black-owned and managed firm.