in Business & Finance

Takatso Consortium named as preferred Strategic Equity Partner for SAA

Posted 14 June 2021 · Add Comment

Takatso Consortium has been selected as the preferred Strategic Equity Partner (SEP) for South African Airways (SAA), announced by the Department of Public Enterprises (DPE) today.

 

Image:  Airbus

This follows a year-long process undertaken by DPE to identify a suitable SEP for SAA.  The Consortium will undertake a normal due diligence exercise before the transaction is finalised.

 

Public Enterprises Minister Pravin Gordhan said: “The partnership brings together South African public and private sector capabilities to reposition SAA. We have looked long and hard at the proposals submitted, and our clear choice of a preferred partner is the Takatso Consortium.

 

“The objective of bringing in an equity partner to SAA is to augment it with the required technical, financial and operational expertise to ensure a sustainable, agile and viable South African airline. SAA will contribute to the venture, the brand, the flag, landing slots, route licences, lounges and a successful loyalty programme (Voyager).

 

“With this partnership, we believe we are closer to achieving the important objective of having a sustainable national airline. The new SAA will not be dependent on the fiscus. It will be agile enough to cope with the current uncertainty, and improvement, in global travel. As we recover from the impact of Covid on the aviation industry, African countries will reopen their borders, enabling the movement of people, cargo and trade. We want to relaunch SAA as an iconic South African brand and are confident that we have the right partner to achieve this objective,” said Gordhan.

 

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