JOHANNESBURG - The Department of Public Enterprises has welcomed the decision by the Competition Tribunal to approve the acquisition of 51% of South African Airways by the Takatso Consortium.
The decision has put Takatso and the department on course to finalise the regulatory framework needed to inject R3 billion into the ailing airline. In February 2022, DPE and the Takatso Consortium signed a purchase agreement, which came under scrutiny.The Competition Tribunal approved the transaction with conditions, including that the airline needn't retrench staff.Gidon Novic, from minority shareholders who is also the co-founder of LIFT Airline, said they're looking for investors to buy them out.DPE said the R3 billion injection by Takatso would help SAA in its expansion of its routes and to expand its fleet.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ewnupdates - 🏆 30. / 53 Read more »
Source: News24 - 🏆 4. / 80 Read more »