Gordhan also said the airline was in a sustainable position for the next year to 18 months and would not require further tax-funded bailouts.
Minister of Public Enterprises, Pravin Gordhan, at Cape Town City Hall on 9 February 2023. Picture: Gallo Images/Daily Maverick/Victoria O’Regan
Gordhan briefed the media in Cape Town on Wednesday regarding the deal that was first signed in 2021 but was busy being renegotiated.previously saying some documents relating to it had to be kept secret due to the negotiations and the documents’ commercial sensitivity.Gordhan says controversial SAA sale to Takatso being renegotiated
“Currently, SAA is running at massive losses that amounted to some R760 million in the first three months of this year. This incompetent SAA management will now result in these massive and ongoing losses, leading to yet more taxpayer bailouts.” “For 51% of this debt-free SAA to be sold for R51 was outrageous and a slap in the face of taxpayers.
“Over a period of time, we inquired whether Takatso was executing what the tribunal had asked it to do, and we could not see any evidence of that.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘He’s made a mess of SAA sale’ – Ramaphosa urged to fire Gordhan over Takatso dealUDM leader Bantu Holomisa wants President Cyril Ramaphosa to take action against Public Enterprises Minister, Pravin Gordhan.
Read more »
ANC 'knives out for Gordhan' amid opposition calls for his head over SAA/Takatso deal controversyANC 'knives out for Gordhan' amid opposition calls for his head over SAA/Takatso deal controversy
Read more »
Gordhan announces that SAA-Takatso deal is offHe says this was in part is because SAA's assets are now worth far more than they were during the COVID-19 pandemic.
Read more »
SAA’s deal with Takatso terminated: Minister Pravin GordhanPublic enterprises minister Pravin Gordhan has announced that SAA’s deal with strategic equity partner Takatso has been terminated
Read more »
Takatso Consortium says SAA deal would have taken too longIt says time constraints to meet new directives by the competition authorities would have made it even more difficult to conclude the majority purchase of SAA.
Read more »