JOHANNESBURG – The Department of Public Enterprises (DPE) has welcomed the decision by the Competition Tribunal to approve the acquisition of 51% of South African Airways (SAA) by the Takatso Consortium.
The decision has put Takatso and the department on course to finalise the regulatory framework needed to inject R3 billion into the ailing airline.
In February 2022, DPE and the Takatso Consortium signed a purchase agreement, which came under scrutiny.
The Competition Tribunal approved the transaction with conditions, including that the airline needn’t retrench staff.
Another condition is that the minority shareholders in Takatso divest from the company.
Gidon Novic, from minority shareholders who is also the co-founder of LIFT Airline, said they’re looking for investors to buy them out.
“From what I understand, anyone can buy… We have appointed advisers to help us with that.”
DPE said the R3 billion injection by Takatso would help SAA in its expansion of its routes and to expand its fleet.
Source : EWN