WATCH LIVE: SAA board and executives speak on Jarana's resignation | IOL Business Report

JOHANNESBURG - The board of South African Airways and its executive management is currently briefing the media on the state-owned airline's current and future plans in light of Vuyani Jarana's resignation as CEO.

On Thursday, the leadership of the airline in a statement said it would hold a briefing to put certain matters into perspective and assure its customers, the markets and stakeholders about business continuity and commitment to the implementation of the airline strategy.

In his leaked resignation letter, Jarana said that a big chunk of the R5 billion bailout SAA received from government for the 2018/19 financial year had been used to pay creditors up to the end of March 2018, to the point that the airline on three occasions was on the brink of not paying salaries.

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BUSINESS MAVERICK/NEWS ANALYSIS: Gloves come off between SAA CEO and his boardThe relationship between the CEO of SAA, Vuyani Jarana and the board of the beleaguered airline appears to have irretrievably broken down, with the board investigating the CEO for a breach of confidence and he, in turn, threatening legal action. With the airline in a precarious position, this is probably not ideal. SAA still captured it seems
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