Govt reveals proposals from private funders, investors interested in 'new' SAA
In a statement, the Department of Public Enterprises said it intended to pursue credible proposals for investment and strategic partnership with the private sector.
JOHANNESBURG - Government on Tuesday said that it had received unsolicited proposals from private sector funders, private equity investors, and potential partners for a new national airline based on the broke South African Airways (SAA).
The carrier has been under a form of bankruptcy protection since December 2019, and its administrators earlier this month proposed a restructuring plan, warning that government would need to find at least R10 billion for it to work.
In a statement, the Department of Public Enterprises (DPE) said it intended to pursue credible proposals for investment and strategic partnerships with the private sector.
The DPE said that the partners would introduce technical, financial, and operational expertise.
Expression of Interest for New and Restructured SAA pic.twitter.com/M7OcZ0BGP2— DPE_ZA (@DPE_ZA) June 23, 2020