SAA new deal: Who and what is Takatso Consortium
- SAA's new majority shareholder is Takatso Consortium
- Takatso Consortium is comprised of Harith General partners who own Lanseria Airport and who will have a 51% share
- The SA government will retain 49% share in the airline
Aviation analyst Desmond Latham speaks to Refilwe Moloto about how the government's new deal with Takatso Consortium is expected to work, and whether it will finally be a lasting solution to SAA's financial crisis.
Minister of Public Enterprises Pravin Gordhan announced that SAA would now be owned by the government and strategic equity partner Takatso Consortium.
SAA's new majority shareholder is the Takatso Consortium made up of Harith General Partners, which owns Lanseria Airport, and Global Aviation, and will own 51% of the national carrier, while the state will retain 49%.
Latham reacts to the deal.
It's a sleight of hand in a certain way as this airline has suffered since 2011 with a lack of profits and revenue. it has zero revenue at the moment. I can understand why the partners are talking it up the deal itself but the problem is the pandemic.Desmond Latham, Aviation Analyst
He says entering the marketplace at the time of a pandemic
Takatso CEO, former Comair Co-CEO, and recently co-founder of Global’s airline LIFT, Gidon Novick, said efficient customer service and innovation were central to the business plan.
I can understand Gidon Novick said it is the perfect time to purchase, but it is not the perfect time to operate.Desmond Latham, Aviation Analyst
Harith is linked to the ruling party, linked to the ANC. All the senior board members are linked to the party itself.Desmond Latham, Aviation Analyst
Source : https://www.123rf.com/stock-photo/south_african_airways.html?oriSearch=saa&sti=n8wqyoe1mwzlg0c4x4|&mediapopup=110937089