The Takatso Consortium comprising Pan-African investor Harith General Partners and aviation group Global Aviation, is the new Strategic Equity Partner (SEP) for South African Airways (SAA) in a new public-private partnership that will drive the new airline going forward
The announcement comes soon after SAA exited an 18 month long business rescue process and will come as a welcome relief to both the South African public and government
According to a statement, The Takatso Consortium will own 51% of the airline and the Department of Public Enterprises 49%. With an intention is to list the airline in the future as one way of addressing future funding requirements and to enable all South Africans to take part in its success.
“The partnership represents a robust, exciting South African-bred solution. Harith, as owners
of Lanseria International Airport, has significant experience in the transport infrastructure and
aviation sectors. We have deployed more than a billion dollars into a portfolio of critical
infrastructure assets across the African continent that support regional economies.”
“Global’s operating model is unique, highly efficient and fit for purpose for a newly launched
airline. The Consortium has empowerment at its heart and a unique blend of skills and
experience,” Harith co-founder and Consortium Chair Tshepo Mahloele said
Takatso’s CEO is former Comair Co-CEO and co-founder of LIFT airline, Gidon Nivock. He had this to say:
“COVID has created a unique set of circumstances for the industry. There are incredible skills
and talent available right here in South Africa as well as an abundance of low-priced aircraft
available globally – both critical ingredients for a successful airline, Transformation will be core
to SAA, including accelerated training and promotion of qualified black pilots and a broadbased
employee incentive scheme”
A due diligence exercise will now get under way. Once completed, further details will be
outlined on key issues such as the route network rollout, fleet selection, leadership team,
transformation, brand relaunch, technology, SAA’s subsidiaries, global partnerships and
Voyager.
