Johannesburg – The Takatso Consortium will be giving South African Airways R3 billion over the next two years.
This, as it forges with its acquisition of a 51%controlling stake in the airline.
But the relaunch of SAA will continue to be a burden on taxpayers because of the business rescue obligations. These remain the responsibility of the Public Enterprises Department.
The consortium says that it has an experienced and capable team ready to run SAA as soon as all regulatory approvals are given.
Those that must okay the transaction include the Competition Commission and the Civil Aviation Authority.
Public Enterprise will retain a 49% equity stake in SAA.