Pravin Gordhan
SA Government Loses Majority Stake in South African Airways
Sourced from The African Report. /* custom css */ .tdi_4_700.td-a-rec-img{ text-align: left; }.tdi_4_700.td-a-rec-img img{ margin: 0 auto 0 0; } 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 airli...
SA Government Could Bail Out National Airline to the Tune of $1.2-Billion
Sourced from Shutterstock. The administrator’s running South Africa’s embattled national airlines SAA propositioned the government to provide a R21-billion ($1.2-billion) bailout to help repay debt and resume operations after COVID-19 travel bans are lifted. This new plan includes about R17-billion that will go into repaying South African Airways creditors, according to Bloomberg. Afterwards, as much as R2-billion will be provided for working capital to get operations back and running. The draft plan “is for discussion purposes only and we await comment from the affected persons,” a spokeswoman for the administrators says, adding that the team has until 8 June to finalize a rescue proposal. /* custom css */ .tdi_3_91e.td-a-rec-img{ text-align: left; }.tdi_3_91e.td-a-rec-img img{ margin: 0 ...
