South Africa Scraps Sale of Airline After 3 Years of Talks
- Government fails to agree on terms with Takatso group
- Open to other partnerships for South African Airways
This article is for subscribers only.
South Africa terminated a deal to sell a controlling stake in its flagship airline, after failing to agree on a value and other terms after three years of negotiations, Public Enterprises Minister Pravin Gordhan said.
The government had planned to dispose of 51% of loss-making South African Airways to the Takatso group, which is made up of closely held Global Airways and private equity firm Harith General Partners, but the talks were called off, Gordhan told reporters in Cape Town on Wednesday.