Pravin Gordhan announced the sale for a 51 percent stake in SAA to the Takatso Group (Harith and Global Airways are partners in this) for.... nothing.
Takatso pays nothing for a 51% stake. They promise to invest R3.5 billion ($258) on an unspecified timeline. But the dumpster fire that is SAA has almost no aircraft, has zero pilots (they fired them all!), only 20% of its workforce and many other issues.
So what is play here? Who will be on the board? Who are the new officers? If you suspect hey y will connected ANC patronage cadres, you are probably on to something. Pretoria retained a 49% stake in the new airline. Why?
ANC, South Africa, SAA, Novick, Mahloele, COMAIR, Kulula, Lift
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