South Africa

News24.com | Gordhan expected to unveil strategic equity partner for SAA on Friday

Details of the announcement are expected on Friday morning.

Details of the announcement are expected on Friday morning.

Government is set to announce that it has found a strategic equity partner for state-owned carrier SAA, 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 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.

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