South African Cabinet approves process to find equity partner for South African Airways
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Background ✨
SAA CEO John Lamola said its five-year plan envisaged seeking external capitalisation, potentially via a strategic equity partner, to support a more expensive modern fleet and global network linkages.1 Transport Minister Barbara Creecy indicated SAA was debt-free and not seeking further National Treasury funding, but still required a capital injection and the government remained open to equity partners including financiers and other airlines.2 The earlier 51% sale to Takatso Consortium was terminated after revised valuations and failure to agree a revised structure, returning SAA to full state ownership.3