Govt officials working out how much money SAA still needs from Treasury, airline says

Government officials are working out exactly how much money South African Airways (SAA) still needs from National Treasury in order to settle legacy debt and bring the finalisation of the strategic equity partnership deal with the Takatso Consortium one step closer. Takatso, chosen as SAA’s strategic equity partner already more than a year ago, is not prepared to take on any of the airline’s legacy debt. Investment firm Harith and Global Airways, owner of the LIFT airline, are the Takatso partners. Takatso is expected to provide much-needed capital for the airline’s continued operations – to the tune of R3 billion over two years.