Although South African Airways (SAA) is yet to conclude its transaction agreement with Takatso Consortium, Department of Public Enterprises (DPE) director-general Kgathatso Tlhakudi says it’s important that the airline starts flying and generates cash.
“You cannot have this metal and these people sitting around, they burn cash, sitting on the ground. So, we want them to be operating, converting that cash into new cash flows. The sooner they get started at SAA, the better,” said Tlhakudi.
The airline will officially make its maiden flight on Thursday, having battled to return after halting its flights at the beginning of South Africa’s Covid-19 lockdown in March 2020.
Last year, the SA Treasury allocated R10.5 billion to SAA and the then ailing airline has since begun discussions with Takatso Consortium on its acquisition of 51% of the airline. The consortium is made up of infrastructure investment firm Harith and LIFT airline owner, Global Aviation, and is expected to inject R3 billion into the airline over the next three years.
