SAA acknowledges Mango CEO Resignation
1. South African Airways (SAA) confirms that it has now been duly notified of the resignation of Mr Nico Bezuidenhout, the chief executive of Mango Airlines, a subsidiary and a low cost carrier in the SAA Group. Shareholder notification of such a resignation is not a governance requirement; it however serves as professional courtesy to inform the shareholder given the seniority of the position of the chief executive.
2. SAA would like to wish Mr Bezuidenhout well in his future endeavours.
3. SAA has been informed that Mr Bezuidenhout resigned from Mango Airlines of his own volition. SAA accepts and respects this as a personal choice and a career decision on his part. We reject suggestions that there is nexus between Mr Bezuidenhout’s resignation and internal investigations across the Group.
4. In addition, SAA confirms that one of the investigations currently underway relate to the manner in which routes were removed from SAA and allocated to Mango Airlines at the expense of SAA, effectively hurting SAA’s commercial interests and financial performance. We draw no immediate conclusions on this about who may be held accountable for this as the investigation will possibly shed light on the matter.
5. SAA expects the leadership of Mango Airlines through its Board of Directors to consult with the shareholder and announce an acting chief executive for Mango Airlines as soon as it is practically possible to do so. Everything possible must be done to ensure that a suitable candidate, fit to hold the position and with proper credentials, is found.
6. Mr Bezuidenhout’s departure is expected to have no impact on the operations and possible growth prospects of Mango Airlines. SAA materially contributed to the much celebrated financial performance of Mango Airlines and will continue to support the airline should the need so arise.
7. As an initial investment to subsidise the start-up of Mango Airlines, SAA sub-leased 10 aircraft, at a significantly discounted cost to Mango Airlines, while continuing to pay the market related premium to the lessor. The aircraft are still in use and comprise the whole of Mango’s fleet. SAA understands and accepts that this is a necessary investment and a demonstration of shareholder support towards an entity it has exclusive shareholding over.
8. SAA remains committed to Mango Airlines, will support and defend its leadership should the shareholder protection be necessary. Under public and media scrutiny about his qualifications, Mr Bezuidenhout was defended by SAA after he provided an explanation as to why his academic qualifications were overstated in the annual report on two successive financial years.
9. SAA would like to assure all its stakeholders and the public that the Group remains focused on discharging its mandate.
10. No details on specific investigations currently underway may be disclosed until such investigations have been finalised.
About South African Airways:
South African Airways (SAA) is the leading carrier in Africa, serving 74 destinations, in partnership with SA Express, SA Airlink and its low cost carrier, Mango, within South Africa and across the continent, and nine intercontinental routes from its Johannesburg hub. It is a member of the largest international airline network, Star Alliance. SAA’s core business is the provision of passenger airline and cargo transport services together with related services, which are provided through SAA and its wholly owned subsidiaries: SAA Technical; Mango its low cost carrier; and Air Chefs, the catering entity of SAA. SAA is the winner of the 'Best Airline in Africa’ Award in the regional category for thirteen consecutive years and the winner of ‘Best Airline staff in Africa’ for four years. SAA has been named the coolest domestic airline at the Sunday Times Generation Next Awards.
For media information, please contact:
SAA Spokesperson
Tlali Tlali
Email: TlaliTlali@flysaa.com
Mobile:+27 82 333 3880
Office: +27 11 978 2298
Web: www.flysaa.com