Mbeki moves to steady SAA amid leadership vacuum

Acting CEO Koekie Mbeki of South African Airways (SAA) has no intention of holding onto the top position indefinitely. She emphasized the need for permanent leadership to be installed as soon as possible while she focuses on maintaining stability in a challenging aviation market.

Mbeki's appointment came during a tumultuous period, marked by a controversial 2025 Annual Report, the departure of airline boss John Lamola, the retirement of chief financial officer Lindsay Olinsky, and most recently, the special leave taken by acting CEO Matshela Seshibe.

The SAA board is prioritizing the filling of both the CEO and CFO positions as quickly as possible to restore stability, as these roles' absence can cause market jitters. Mbeki highlighted that keeping the positions unfilled could create uncertainty in the market.

Despite the challenges, Mbeki is determined to make the most of her time as CEO, regardless of the duration. She acknowledged the impact of higher fuel costs and the financial strain on consumers, noting that air travel is among the expenses being reconsidered by people due to the increased financial pressure.

Mbeki's tenure as CEO is also taking place amidst ongoing investigations by the Special Investigating Unit (SIU) and other law enforcement agencies into the airline's history of fraud and corruption. The probe extends over more than two decades, and Mbeki emphasized that the current board expects allegations of wrongdoing to be investigated rather than ignored.

She stated that the board has adopted an attitude of "no holy cows," meaning that everyone found to have committed misconduct will face consequences. Financial recovery, especially in cases of collusion, fraud, and corruption, is also a priority. Lifestyle audits are part of the plans to strengthen oversight at the airline.

While some historical matters remain under investigation, efforts are underway to recover money from individuals and companies suspected of wrongdoing, some of which have international dimensions due to the involvement of multinational companies.

Mbeki declined to comment on SAA's financial position until the latest numbers have been finalized. However, she assured that the airline remains solvent. Transport Minister Barbara Creecy has been supportive, but Mbeki stressed that government ownership does not exempt SAA from commercial realities and the need to compete with other airlines.