Three Things to Learn From Exit of South African Airways's CEO

South African Airways’s prospects of surviving in its current form took a hit over the weekend when news broke that Chief Executive Officer Vuyani Jarana quit over a lack of government support.

The National Treasury isn’t committing to an agreement to put 21.7 billion rand ($1.5 billion) toward the state-owned carrier’s 2021 break-even plan, Jarana said in a four-page resignation letter. The lack of clarity has made it impossible for SAA to attract outside funding, and a 3.5 billion rand bridge facility runs out this month, he said.