Minister of Public Enterprises, Pravin Gordhan, announced that the 51% sale of South Africa Airways (SAA) to Takatso Consortium has been called off. Gordhan listed three reasons why the deal was off. Firstly, government needed to ensure a fair value was attached to the 51% shares. Secondly, that there was public interest secured in the fair value. Thirdly, that the airline was now in a more sustainable position than it was back in 2019.
He added that SAA is secure enough for the next 12-18 months and can find other financial means if needed, The deal had been controversial, with Gordhan previously saying some documents relating to it had to be kept secret due to the negotiations and the documents’ commercial sensitivity. Public Enterprises Minister Pravin Gordhan has announced that the sale of a 51% SAA stake to Takatso Consortium has been cancelled. He says the airline will not get a government bailout, and no jobs will be lost.In response to Gordhan’s announcement, Takatso Consortium said the changes to the deal would have taken too lon