SAA mulls selling Heathrow landing rights to stay afloat

With no investor in sight, SAA mulls selling Heathrow landing rights to stay afloatAbsent a new strategic equity partner, embattled South African Airways (SAA) is considering selling its landing rights at major international airports, including Heathrow Airport in London, Parliament's financial oversight committee heard on Tuesday.This follows the collapse of the controversial Takatso deal earlier this year, after three years of negotiation.Plans to sell a controlling stake in SAA to the Takatso Consortium had been announced in 2021 in a bid to halt billions of rands' worth of taxpayer-funded bailouts.During a briefing of Parliament's Standing Committee on Public Accounts (Scopa) on Tuesday, members were given an update on the status of Transnet, the Passenger Rail Agency of South Africa (Prasa), SAA, and the Road Accident Fund (RAF).Transport Minister Barbara Creecy said the beleaguered airline was "debt-free" and would focus on securing a new equity partner.However, nobody is biting. "We need a capital injection for [SAA] to return to [its] former glory. This could be a development finance institution, if there is interest and appetite; or another airline, if there is interest and appetite."However, at the moment, we do not have any interest on the table," Creecy told MPs. -FIN24

SAA mulls selling Heathrow landing rights to stay afloat

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Republikein 2025-04-30

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SAA mulls selling Heathrow landing rights to stay afloat

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