JOHANNESBURG Oct 8 (Reuters) – The chief executive of South
African Airways has stepped down, the government said
on Monday, just days after Pretoria promised to shoulder $600
million in loan guarantees for the struggling state-owned
airline.
The Department of Public Enterprises said in a statement
Siza Mzimela had resigned and the airline’s board would begin a
search for her successor.
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.
(Reporting by David Dolan; Editing by Ed Cropley)
© Thomson Reuters 2012 All rights reserved
