Gordhan grounds SAA-Takatso deal
The South African Airways and Takatso Consortium deal has been scrapped.
Public Enterprises Minister Pravin Gordhan announced the decision on Wednesday, saying it got approval from Cabinet earlier that day.
The sale of a 51 per cent stake in the flag carrier was agreed upon in June 2021 after Takatso Consortium became the strategic equity partner.
Gordhan says the two sides agreed to cancel the deal.
READ: South African Airways and Takatso Consortium
Takatso says it was no longer in the best interest, which means SAA will now be 100% government-owned again.
The minister believes the national airline has a bright future ahead.
"The message to all the SAA staff is that you don't worry about your jobs and the future of your families.
"We will ensure that we work with the board and management before the election and the next administration will do so after the election - to continue to support the sustainability of SAA and to ensure SAA has developed the cooperate plan is further strengthened with the strategic advice from the right aviation experts in the coming weeks."
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