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Gordhan provides 3 reasons why SAA deal with Takatso has been scrapped



Gordhan also said the airline was in a sustainable position for the next year to 18 months and would not require further tax-funded bailouts.

Public Enterprises Minister Pravin Gordhan has announced the scrapping of the deal to sell 51% of South African Airways’ (SAA) shares to the Takatso consortium.

This, he said, was for three reasons: the government needed to ensure a fair value was attached to the sale of the 51% shares; public interest was secured in this fair value; and the airline should be placed in a more sustainable position than it was in 2019.

He also said the airline is in a position that is sustainable for the next year to 18 months, and there are other ways financing can be obtained should it be needed.

“But at no stage, in the course of the months that come, will the SAA get money from the fiscus,” he said, referring to tax-funded bailouts of the past.

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