The South African government will retain a 49% stake in the airline. Takatso Consortuim, a South African-based body, consists of leading Pan-African infrastructure investor, Harith General Partners, and local aviation group, Global Aviation. 

The public-private partnership means that 51% of SAA will be based in the private sector. 

In a statement, Takatso said it planned to reintroduce SAA as an iconic South African brand and create a viable, sustainable, and streamlined airline that attracts the best talent in the industry. Information regarding route networks, fleet selection, transformation, and management will be announced later.

Harith co-founder and Consortium Chair Tshepo Mahloele said the Consortium has the experience, expertise, and capital to transform SAA into a substantial operating business in its own right.  

“The partnership represents a robust, exciting South African-bred solution. Harith, as owner of Lanseria International Airport, has significant experience in the transport infrastructure and aviation sectors. We have deployed more than a billion dollars into a portfolio of critical infrastructure assets across the African continent that support regional economies.”  

Takatso CEO, former Comair Co-CEO, and recently co-founder of Global’s airline LIFT, Gidon Novick said he was confident that SAA could be built into an efficient, customer-obsessed and innovative airline that serves as a catalyst for growth in the South African economy, particularly tourism.  

“COVID has created a unique set of circumstances for the industry. There are incredible skills and talent available right here in South Africa as well as an abundance of low-priced aircraft available globally - both critical ingredients for a successful airline. Transformation will be core to SAA, including accelerated training and promotion of qualified black pilots and a broad-based employee incentive scheme,” he said.

The Takatso Consortium will own 51% of the airline and the Department of Public Enterprises 49%. The intention is to list the airline in the future as one way of addressing future funding requirements and to enable all South Africans to take part in its success.  

Statement