JOHANNESBURG (Reuters) – South African Airways said on Sunday that its board has accepted the resignation of Chief Executive Vuyani Jarana, who has been at the helm of the struggling state-owned airline for less than two years.

“In terms of his contractual obligations, Mr Jarana has committed to remain until the end of August to ensure an orderly transition of his responsibilities, which is a matter that the board will consider,” Chairman Johannes Bhekumuzi Magwaza said in a statement.

Reuters reported earlier on Sunday that Jarana had resigned because he believed his turnaround strategy for the loss-making airline was being undermined by a lack of state funding and too much bureaucracy.