Gordhan also announced that the airline will still be headquartered in the country and that management will also be mostly black.

The SAA business rescue process officially ended in April with the government announcing at the time that they would be going into negotiations to look into finding a strategic equity partner (SEP).​

“SAA will be owned by a partnership between government and a strategic equity partner. Having evaluated the current environment, government has agreed to the SEP owning 51% of the shareholding and government 49% of the shareholding,” Gordhan said.

“The strategic equity partner is known as Takatso, which is a consortium, and the word Takatso in Sotho means aspire. And this consortium is 51% black-owned. It brings together two very resourceful entities, Harith, which is a funder and interest structure investor and an airport owner and a global airways which has sufficient and interesting experience in the airline industry.”

This partnership, Gordhan said, demonstrates SA’s ability to develop an entirely home-grown solution to relaunch SAA as a sustainable, competitive and transformed airline.

TimesLIVE

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