South Africa's finance minister says would like SAA minority equity partner - CNBC Africa

South Africa's finance minister says would like SAA minority equity partner

Southern Africa

by Reuters 0

South Africa's finance minister says would like SAA minority equity partner. Photo: Wikipedia.

South Africa's Finance Minister Pravin Gordhan said on Wednesday he favoured a minority equity partner buying into struggling national airline South African Airways (SAA) at "some stage".

SAA, which has been placed under National Treasury oversight, has already had state guarantees of 14.4 billion rand ($973 million) as it struggled with an old fleet and high fuel costs.

Government in February indicated it would consider selling a minority equity stake in SAA, which is implementing a turnaround strategy to improve its finances.

($1 = 14.8065 rand)

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