SA Government Loses Majority Stake in South African Airways

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The South African government has lost the majority stake of its ailing airline, South African Airways (SAA) through a deal with its new strategic partner Takatso Consortium. Public Enterprise Minister Pravin Gordhan has announced the news that the government has reached an agreement with Takatso Consortium, a private company, that will now own 51% of […]
The South African government has lost the majority stake of its ailing airline, South African Airways (SAA) through a deal with its new strategic partner Takatso Consortium.

Public Enterprise Minister Pravin Gordhan has announced the news that the government has reached an agreement with Takatso Consortium, a private company, that will now own 51% of the airline, with the government remaining with a minority stake at 49%.

"Government and the ANC [have] indicated over some time the intention to restructure SAA. The airline was placed into business rescue in December 2019 and since then our objective has been to ensure a viable and competitive airline and once launched, not reliant on the fiscus," says the Minister during a virtual briefing.

Takatso Consortium

Takatso Consortium, a 51% black-owned enterprise that comprises pan-African investor group Harith Global Partners and aviation group Global Aviation, is expected to initially pump R3-billion into the airline. SAA will retain its name and will be domiciled in South…
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