Takatso Airways is confident of successfully acquiring a stake in cash-strapped SAA

Takatso Airways has vowed to go ahead with the purchase of the embattled state-owned airline, South African Airways.

The Global Airways Consortium unit, Takatso Airways, insists it is moving ahead and equipped for the 51% takeover of SAA.

This comes despite insiders saying the recent ANC conference was a watershed moment for the deal as the February deadline looms for Takatso to show face.

Takatso’s new spokesperson,  Thulasizwe Simelane, responded explaining that the consortium is ready to fulfil IRS commitment to funding SAA’s operational costs to the tune of R3 billion over two to three years.

Simelane said they are ready to ensure the airline is agile in a competitive market, commercially viable, and contributes to growth of the South African economy, especially tourism, aviation and related sectors.

“Fulfilment of the SAA Strategic Equity Partnership transaction involves several role-players who are each carrying out certain tasks that each move the transaction forward. We can therefore only account for those tasks and functions that are within the purview and domain of Takatso Aviation,” Simelane said as quoted by IOL Business.

“Takatso is ready to make this investment into the growth of SAA, having undertaken and completed all its requisite internal governance processes to secure this funding.

“And for the avoidance of confusion, this investment into the future growth of SAA is contingent on finalisation of the transaction conditions, which is in turn partly contingent on fulfilment by stakeholders including government, of the responsibilities.”

However, aviation analysts and insiders said Takatso’s window shopping of SAA is over, and that the looming Cabinet reshuffle will throw a spanner in the works as the ANC and government is focusing on Eskom.

“So far nothing has moved, the impending reshuffle might provide clues to where the deal is going, but with Fikile Mbalula’s move from the minister of transport to (ANC) secretary-general and the possible reshuffle of Minister Gordhan from the Department of Public Enterprises, the deal is up in the air, and there was no mention of SAA at the elective conference. The focus was on Eskom,” an industry insider said.

The veteran journalist said there was currently continuous engagement with the Competition Commission, as part of the merger clearance process.

“We also view an investment in SAA as an investment in the economy. We look forward to running an airline that not only ignites national pride but also contributes to economic growth, especially tourism and related sectors, regional and continental trade and integration, as well as growing the country’s aviation skills and professions while contributing significantly to achieving transformation imperatives in this sector,” he insisted.