No need for further govt injections into SAA, says Takatso Consortium

The company, which has raised its hand to get majority shares at the airline, said that it was committed to a strong partnership with government and to see this transaction concluded successfully.

A South African airways flight takes off as another one is parked in a bay on the tarmac on 25 May, 2010 at the Johannesburg O.R Tambo International airport in Johannesburg, South Africa. Picture: AFP

JOHANNESBURG - Takatso Consortium said that it had all the necessary resources to have 51% ownership of South African Airways (SAA) amid concerns from national Treasury that it would have to source most of the funding for the partnership.

The company, which has raised its hand to get majority shares at the airline, said that it was committed to a strong partnership with government and to see this transaction concluded successfully.

Takatso has in principle agreed to provide R3 billion over the next two years.

Its chairperson, Tshepo Mahloele, said that Treasury's concerns were a misunderstanding.

"There is no further need for injection into the new SAA going forward by government of any sorts. That's why it took a bit longer to ensure that going forward we have a structure which will enable the state to still keep a share in this business going forward," Mahloele said.