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Govt received more than 10 offers for SAA & subsidiaries – DPE

SAA said that it had received offers from investors, private sector funders and future partners who wanted to kick-start the restructured airline.

© brians101/123rf.com

JOHANNESBURG - There are still questions over whether the Department of Public Enterprises (DPE) has paid over to South African Airways (SAA) the required R10.4 billion it needs to restructure the airline.

But the department on Monday confirmed that it had received offers from many potential investors who wanted to buy a stake in the wholly-owned state-owned entity.

SAA said that it had received offers from investors, private sector funders and future partners who wanted to kick-start the restructured airline.

The DPE said that it had received more than 10 unsolicited offers for SAA and all its subsidiaries.

DPE spokesperson Sam Mkokeli said in a statement that showed that SAA could be a sustainable business.

“As at the beginning of August, the government, through the DPE, had received more than 10 unsolicited interests for SAA and its subsidiaries Air Chefs, South African Airways Technical and Mango Airlines.

“The DPE welcomes the attraction of a mix of local and international investor groups to provide the new airline with technical, financial and operational expertise to ensure significant South African ownership whilst diversifying the investor base,” Mkokeli said.

He added: “As the sole shareholder on behalf of government, the DPE had been busy assessing the interests from the several unsolicited local and international strategic equity partners (SEPs) as part of the implementation of the business rescue plan, which was published at the end of June 2020.

“The DPE believes that such investments in the airline and its subsidiaries will help support key economic sectors, including tourism, and solidify South Africa as an African gateway to international markets.”

While announcing the offers, the department has not said if it allocated enough money to implement the changes.

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