Takatso, the consortium picked to buy a majority stake in SAA, could raise its stake if the airline runs out of money, ensuring that the government is off the hook for any possible future recapitalisation efforts.
The consortium, which is made up of private equity infrastructure investment fund Harith and aircraft-leasing company Global Aviation, will own 51% of the shareholding in the airline, while the government will retain 49%.
Takatso, the black-owned private sector consortium selected as the government’s preferred strategic equity partner for SAA, has big plans for the airline, including a possible listing on the JSE in the next few years, as it looks to change the fortunes of the airline, which recently emerged from a 16-month business rescue process.
“If you consider the plans we have for SAA in the next three to five years and you consider the growth that is possible, we believe it will be a listable entity,” said consortium chairperson Tshepo Mahloele in an interview on Friday.
“It is an iconic brand that we should be able to use to promote more inclusivity. It will be part of the whole confidence-building exercise of getting the general populace to participate in the ownership of this iconic brand.” (SundayTimes/ BDaylive)