Mon, 21 Jun 2021

Public Enterprises Minister Pravin Gordhan is expected to make an announcement on the future of the troubled state-owned airline South African Airways (SAA) on Friday morning.

Bloomberg reported on Thursday that government is set to announce that it has found a strategic equity partner for SAA.

Gordhan was scheduled to make the announcement on Thursday, before postponing.

The expected announcement comes about six weeks after the airline emerged from lengthy business rescue proceedings, having reduced its workforce by almost 80% and cut liabilities. The next challenge is to resume international flights, though South Africa remains cut off from much of the world due to Covid-19 travel restrictions.

Source: News24

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