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South Africa Close to Finding Investor for Grounded Airline

  • Government in final stages of talks to capitalize SAA
  • South African Airways hasn’t flown for more than a year
     
Photographer: Waldo Swiegers/Bloomberg
Updated on

South Africa is in the final stage of negotiations with a potential investor for its grounded flag carrier, a move that would give the airline a boost just as it emerges from bankruptcy protection.

The deal will bring capital and “much-needed technical and commercial expertise” to South African Airways, the Department of Public Enterprises said in a statement Friday. The agreement should be signed in the next few weeks, it said.