{"id":472012,"date":"2021-06-11T13:21:42","date_gmt":"2021-06-11T13:21:42","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=472012"},"modified":"2021-06-11T13:21:42","modified_gmt":"2021-06-11T13:21:42","slug":"afrique-du-sud-a-private-consortium-buys-south-african-airways","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2021\/06\/11\/afrique-du-sud-a-private-consortium-buys-south-african-airways\/","title":{"rendered":"Afrique du sud: a private consortium buys South African Airways"},"content":{"rendered":"
<\/div>

The private Takatso consortium has taken a majority stake of 51% in the airline company South African Airways (SAA), announced state sources this Friday, June 11. The consortium is pledging an initial sum of more than 3 billion rand (221.60 million USD) to breathe new life into the ailing national airline.<\/p>\n

\u201cThe government will keep a 49% stake while the financial partner will hold 51%,\u201d said Pravin Gordhan, Minister of Public Enterprises. \u201cThe aim of bringing in a financial partner for SAA is to augment it with the technical, financial and operational expertise required to ensure a sustainable, agile and viable South African airline,\u201d he added.<\/p>\n

For his part, the co-founder and chairman of the Takatso consortium, Tshepo Mahloele, in a statement said he has the experience, expertise and capital to transform SAA into a substantial operational enterprise.<\/p>\n

For several years, the national airline has been going through a delicate financial situation. In fact, the authorities have repeatedly announced a rescue plan to deal with the crisis.<\/p>\n

Between 2011 and 2019, SAA has benefited from state interventions several times. His situation worsened further during the Covid-19 pandemic, with all operations being put on hold in September 2020.<\/p>\n

The airline is one of a handful of South African state-owned enterprises that rely on government bailouts, putting the national budget under enormous pressure in an era of growing debt.<\/p>\n

Note that the consortium includes the pan-African investor group Harith Global Partners and the aviation group Global Aviation.<\/p>\n

With a fleet of more than 50 planes (Boeing, airbus, etc.), SAA serves 57 destinations in South Africa and across the continent.<\/p>\n

<\/div>","protected":false},"excerpt":{"rendered":"

The private Takatso consortium has taken a majority stake of 51% in the airline company South African Airways (SAA), announced state sources this Friday, June 11. The consortium is pledging an initial sum of more than 3 billion rand (221.60 million USD) to breathe new life into the ailing national airline. \u201cThe government will keep<\/p>\n","protected":false},"author":536116,"featured_media":472013,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[12004,12036,12006],"tags":[12196,21,18853,12907],"class_list":{"0":"post-472012","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-airlines","8":"category-sectors","9":"category-tourism","10":"tag-african","11":"tag-afrique-du-sud","12":"tag-private-consortium","13":"tag-south-african-airways-en","14":"post_format-post-format-aside","15":"pmpro-has-access"},"yoast_head":"\nAfrique du sud: a private consortium buys South African Airways - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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