South Africa’s SAA can operate for 12-36 months with 3 bln rand investment – consortium

PUBLISHED: Fri, 11 Jun 2021 14:04:29 GMT

JOHANNESBURG, June 11 (Reuters) – An initial 3 billion rand ($221.20 million) investment commitment should be sufficient to operate a newly re-launched South African Airways (SAA) for 12 to 36 months, the consortium purchasing a majority stake in the airline said on Friday.

Officials from the Takatso consortium told Reuters they would not seek to list SAA within the next three years, saying it would first need to be profitable. They added that the South African government could dispose of more of its 49% stake in the meantime.

($1 = 13.5622 rand)

(Reporting by Joe Bavier; editing by Mfuneko Toyana)

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