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South African National Carrier In New Strategic Partnership

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South African National Carrier In New Strategic Partnership SouthAfrica

The Competitions Tribunal has approved a 51% takeover of South African Airways by Harith General Partners and Global Aviation, with the condition that minority shareholders in the two entities, sell their shares. The two firms had to also agree that no retrenchments will take place at SAA.

The government will keep a firm minority stake of 49%, writesSAA will hopefully see an end to its years-long financial woes, brought on by mismanagement and corruption. Numerous financial bailouts by the South African government and taxpayers over the years, did not help the airline get over its financial crisis.

 

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