According to Fly SAX's spokesperson Thabsile Sikakane, seed funding will instead be raised by an anchor investor who will recapitalise the cash-strapped regional airline and take full ownership of it to get it off the ground.

Sikakane says while crowdfunding is not completely off the table, recapitalising the business is the priority.

No details were given on the new anchor investor only that it was a reputable South African company.

Moneyweb