Sale of government’s 51% stake in SAA nears conclusion

Government is making strides in concluding the disposal of 51% of its shares in South African Airways (SAA) to strategic partner Takatso Consortium.

In a statement following an ordinary meeting held on Wednesday, Cabinet said progress on the sale to strategic equity partner, Takatso Consortium, now hinges on approval from industry bodies.

“The sales and purchase process has now been concluded and signed by the Department of Public Enterprises and Takatso Consortium. The next step involves the approval of this transaction by various regulatory bodies. The public will be updated on further developments in this regard,” Cabinet said.

The strategic partner was announced in June last year in an effort to save the struggling airline after it was put under business rescue and grounded.

SAA has since September last year taken to the air again.