South Africa Set to Unveil Strategic Equity Partner for SAA
(Bloomberg) -- South Africa’s government is set to announce that it has found a strategic equity partner for state-owned carrier South African Airways, according to three people familiar with the matter.
Details of the announcement are expected on Friday morning, the people said, declining to be identified because the information isn’t yet public. Public Enterprises Minister Pravin Gordhan was scheduled to brief the media on the matter Thursday, before postponing to the following day.
The expected announcement comes about six weeks after the airline emerged from lengthy bankruptcy 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.
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