South Africa has reopened its search for a private investor in South African Airways, nearly two years after abandoning a proposed sale of 51% of the national carrier.
Cabinet approved a “transparent, competitive and properly governed” process to identify a strategic equity partner, according to an official government statement.
The government wants an investor capable of strengthening SAA’s balance sheet, supplying aviation expertise and supporting the purchase or leasing of aircraft and the opening of new routes.
It also wants to reduce the financial exposure carried by taxpayers.
The announcement does not specify how much of the airline will be offered, what SAA is worth or how much capital the investor must provide.
