SAA CEO John Lamola calls it quits

SAA Group CEO John Lamola will resign from the national flag carrier’s top job at the end of April, just under four years after he took the reins.

SAA announced this development on Friday, 10 April, following a board meeting with Transport Minister Barbara Creecy.

“The minister and the board extend their sincere appreciation to Professor Lamola for his dedicated and distinguished service to the national flag carrier,” SAA said, adding that he has led the company through a defining period in its history.

Lamola first joined SAA in July 2021 as a non-executive director and chairperson of the board, before assuming the role of Group CEO in May 2022.

“Professor Lamola took on the leadership of SAA at a critical juncture, as the airline emerged from business rescue and navigated the lingering effects of the Covid-19 pandemic,” SAA said. 

“Under his stewardship, SAA implemented a disciplined and focused rebuilding strategy, restoring operations and re-establishing its position within a highly competitive global aviation market.”

During Lamola’s tenure, the airline expanded its fleet from 5 to 19 aircraft and its route network from 6 to 17 destinations. 

This included the reintroduction of key international routes such as São Paulo, Brazil, and Perth, Australia, alongside the strengthening of its domestic footprint.

“Professor Lamola has played a pivotal role in rebuilding South African Airways and positioning it for sustained success,” board chairperson Sedzani Mudau said. 

“His leadership during a complex and demanding period has left a lasting and positive legacy on the organisation.”

Following Lamola’s resignation at the end of April, the current CEO of SAA subsidiary Air Chefs, Matshela Seshibe, will take over as acting Group CEO. 

“The process to recruit the permanent GCEO will commence shortly,” the airline said.

Lamola’s decision to resign comes shortly after the resignation of three other board members.

“The Minister of Transport, as shareholder representative, has expressed confidence that the remaining 10 board members possess the requisite expertise and experience to continue discharging their fiduciary duties effectively,” SAA said.

“The board and executive management remain firmly committed to ensuring leadership continuity and maintaining operational stability.”

Profit concerns

Aviation analyst Guy Leitch recently raised concerns regarding SAA’s most recent financial reporting.

SAA released its financial results for its 2025 financial year on 6 February 2026 and reported a net profit of R155 million.

However, Leitch said the report contains multiple profit figures, which he claimed made it impossible to determine how profitable the group really was.

SAA reported an operating profit of R366 million, but Leitch said it is more likely operating at a loss of R317 million before tax, due to operating costs exceeding revenue.

Later in the report, the group lists a total comprehensive profit of R162 million, which they attribute to the addition of “remeasurements of defined benefit plans”.

He claimed an analysis of the group’s previous financial results for 2024 shows a similar pattern of financial misrepresentation.

“The group was forced to restate a claimed profit into a very significant loss of R455 million or so,” Leitch said. “So we’re looking, in my opinion, at two years of losses.”

Leitch’s concerns have been compounded by the latest report from the Auditor-General (AG) of South Africa, who issued a disclaimed audit opinion on SAA’s financial results.

The AG said SAA’s board and management have made progress in stabilising the airline’s operations as well as in implementing a route expansion plan.

However, the AG also raised serious concerns regarding the airline’s audit outcomes and a lack of improvements in the airline’s financial reporting.

SAA’s audit outcome for both 2016/17 and  2017/18 was a qualified audit opinion, while the audit opinions for the seven years from 2018/19 to 2024/25 have been disclaimed.

The AG noted that some of those years were influenced by the business rescue process, which affected the credibility of SAA’s financial statements.

However, it said the audit outcomes for 2022/23 to 2024/25 have remained the same due to slow progress in rebuilding internal capacity and improving the entity’s governance and control environment. 

“The continued disclaimed audit outcomes indicate that not enough attention is being paid to improving the quality of financial information,” the AG said. 

“The entity’s persistent failure to produce credible financial statements undermines measures that may have been implemented by the board in rebuilding the entity.”