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SAA relaunches with equity partner – Minister Gordhan promises no more bailouts

11 June 2021 12:31 PM
Tags:
South African Airways
Pravin Gordhan
SAA
Global Aviation
Guy Leitch
Eyewitness News
SA flyer Magazine
EWN
Harith General Partners
Babalo Ndenze
Takatso Consortium
Harith

Mandy Wiener interviews Eyewitness News Parliamentary correspondent Babalo Ndenze and Guy Leitch, Editor at SA Flyer Magazine.
  • SAA will be owned by the Takatso Consortium (51%) and the government (49%)

  • The new airline will have a strong transformation mandate

  • A listing on the JSE may be on the cards in future


© brians101/123rf.com

RELATED: 'It’s going to cost R40bn to R50bn to keep this flag-waving exercise going'


A rebirthed South African Airways (SAA) will be owned by the government and strategic equity partner Takatso Consortium (“aspire” in Sesotho).

Takatso Consortium will own 51% against the government’s 49% holding.

The consortium consists of Lanseria Airport owner Harith General Partners and Global Aviation.

SAA went into business rescue in 2019 and emerged in April 2021.

“Once again, so we understand this clearly, this airline is not dependent on the fiscus,” assured Public Enterprises Minister Pravin Gordhan on Friday during the announcement.

Gordhan said the intention is to eventually list the airline on the Johannesburg Stock Exchange.

Mandy Wiener interviewed Eyewitness News Parliamentary correspondent Babalo Ndenze and Guy Leitch, Editor at SA Flyer Magazine (scroll up to listen).

R3 billion in initial capital will be pumped in by the strategic partner…

Babalo Ndenze, parliamentary correspondent - Eyewitness News

They will be promoting black pilots mostly, and women…

Babalo Ndenze, parliamentary correspondent - Eyewitness News

On balance, it’s a welcome relief… There is now light at the end of the tunnel, and it's probably not a train…

Guy Leitch, Editor - SA Flyer Magazine

Who will fund Harith? … Will the airline be commercially successful? … I’m expecting to see a further bailout…

Guy Leitch, Editor - SA Flyer Magazine

SAA, five or six years ago, was just about to get into bed with Emirates. It would’ve been a lifesaver… The deal was scuppered by Dudu Myeni on purely political grounds…

Guy Leitch, Editor - SA Flyer Magazine

This is probably the best result that could’ve been obtained… The airline will continue to be burdened by an almost uniquely South African problem, the strong development mandate…

Guy Leitch, Editor - SA Flyer Magazine



11 June 2021 12:31 PM
Tags:
South African Airways
Pravin Gordhan
SAA
Global Aviation
Guy Leitch
Eyewitness News
SA flyer Magazine
EWN
Harith General Partners
Babalo Ndenze
Takatso Consortium
Harith

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