Bapela: SAA could still get equity partner but state will be major shareholder

CAPE TOWN - Deputy Public Enterprises Minister Obed Bapela said South African Airways (SAA) could still get a private equity partner in future, but the state will be the major shareholder.

Bapela also said SAA will be flying solo for the next 18 months without any private partner and was also not in line for any state bailouts.

The deputy minister was answering questions from MPs on the failed SAA-Takatso deal, as part of the economic cluster of ministers.

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The deputy minister has not ruled out getting another strategic equity partner for SAA following the failed transaction to sell a majority stake.

But he said the state must have majority control next time around.

"And therefore we are not ruling out that possibility. So it will be there, but the state will remain a majority not to privatise it where we are a minority."

He added that the airline was performing well and did not need a bailout.

"There is optimism regarding the future of the airline and the idea that it will depend on government bailouts going forward should be disregarded."

The public enterprises committee on Wednesday also adopted its report which called for further investigation into the deal.