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Gigaba: Govt yet to decide on possible equity partner for SAA

Finance Minister Malusi Gigaba has said the planned merger of SAA, Mango and SA Express might not involve a private equity partner, but a public one.

South African Airways plane. Picture: Facebook.

PARLIAMENT - Finance Minister Malusi Gigaba says government has yet to decide on a possible equity partner for South African Airways (SAA).

He’s told the National Assembly the planned merger of SAA and SA Express might not involve a private equity partner, but a public one.

Former finance minister Pravin Gordhan announced in his February budget speech that a possible merger of SAA and SA Express would be explored to create a more efficient airline.

Gigaba says bids in response to the merger tender have been received and the government is now reviewing them with a view to SAA’s long-term turnaround.

"Once that has happened we will then make a determination of how we move forward."

Gigaba says there's no decision yet whether the minority partner will be a private or public entity.

“There are also opportunities available or actions available for the minority partner to be a public entity, but that determination has not been made yet... we’ll make it at the relevant time.”

SAA's losses stand at around R4.5 billion.

(Edited by Zamangwane Shange)