After a 1 and half year hiatus, South African Airways takes to the skies again today the 23rd of September 2021
The national carrier relaunches as a shadow of its former self, leaner and promising to do better with only 800 of its previous 4000 workforce and a significantly smaller fleet of 6 active aircraft from 46 in its glory days
SAA returns to an aviation landscape that has shifted after an unprecedented crisis as a result of the global pandemic. Airline executives believe the carrier has a good business case to take it forward.
Initial operations will start with scheduled three times daily flights between Johannesburg and Cape Town. From Monday, the airline it will operate daily return flights to Harare, Lusaka, and Maputo and three times a week to Accra and Kinshasa.
But questions remain regarding the airline’s ownership after the government announced a new strategic equity partner, the Takatso consortium which comprises ACMI specialist Global Aviation Operations and asset fund manager Harith General Partners who have been undertaking a due diligence process before completing the deal. SAA is taking off before Takatso comes on board
CEO of the Takatso Consortium, Gidon Novick confirmed to News24 that the due diligence process is almost complete and that discussions around the share purchase agreement for the cosortium’s 51% stake are at an advanced stage
“We have progressed the due diligence process of SAA, which is now substantially complete, and no material issues have been identified,”
“Discussions currently underway between Takatso and the DPE revolve around the share purchase agreement for 51% of SAA. This agreement will be subject to various approvals and pre-conditions.”
South African Airways last recorded a full year profit 10 years ago. The government has emphasised that this equity partnership represents the end of government bailouts for the airline. Time will tell
Photo: Courtesy-planespotters.net
