Government has agreed to sell its majority stake in SAA to a local jet leasing company and private equity firm, ridding itself of an entity that has long been a drain on state finances.
The South African Cabinet has agreed for the SA government to own 49% of South African Airways (SAA) and for Takatso Consortium to hold 51% of SAA. This was announced today by Public Enterprises Minister Pravin Gordhan who advised the South African government formed a strategic equity partner with Takasato Consortium in a bid to save…