South Africa mulls merging state-owned airlines
South Africa will explore merging 2 state-owned airlines, South African Airways and SA Express, and seek a minority equity partner for the company. "We do not need to be invested in 4 airline businesses," finance minister Pravin Gordhan said in his budget speech. "(Public enterprises minister) and I have agreed to explore the possible merger of SAA and SA Express, under a strengthened board, with a view to engaging with a potential minority equity partner, and to create a bigger and more operationally efficient airline." Treasury said the financial position of SAA has deteriorated and in the event of a default, the govt would likely be called to pay a portion of its guarantee to the airline, which stands at about US$939.3m. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-02-25/star/south-africa-mulls-merging-state-owned-airlines
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South Africa mulls merging state-owned airlines
South Africa will explore merging 2 state-owned airlines, South African Airways and SA Express, and seek a minority equity partner for the company. "We do not need to be invested in 4 airline businesses," finance minister Pravin Gordhan said in his budget speech. "(Public enterprises minister) and I have agreed to explore the possible merger of SAA and SA Express, under a strengthened board, with a view to engaging with a potential minority equity partner, and to create a bigger and more operationally efficient airline." Treasury said the financial position of SAA has deteriorated and in the event of a default, the govt would likely be called to pay a portion of its guarantee to the airline, which stands at about US$939.3m. <br/>
