JOHANNESBURG - The government said on Monday it had received more unsolicited interest from private sector funders, private equity investors and others interested in partnering on a future restructured South African Airways and its subsidiaries.
In a statement, the department of public enterprises (DPE) said it had received more than 10 unsolicited shows of interest for the national carrier, which was placed under business rescue last December, as well as its subsidiaries Air Chefs, South African Airways Technical and Mango Airlines.
"The DPE welcomes the attraction of a mix of local and international investor groups to provide the new airline with technical, financial, and operational expertise to ensure significant South African ownership whilst diversifying the investor base," it said.
Last month creditors approved a revival plan for the loss-making airline which will see 2,700 employees retrenched.
On Monday the DPE said it was assessing the interests from the potential local and international strategic equity partners as part of the implementation of the revival plan.
While maintaining a certain level of presence in the ownership of the new carrier, the government would like to see an efficient and modern aircraft fleet with hybrid density options acquired at competitive rates resulting in cost efficiency, it said.
It also wanted the appointment of a smaller, effective, reinforced and empowered board of directors and a centralised, single commercial team leading fleet, network, pricing, revenue management, product, services, loyalty programme, sales and marketing for the new airline.
President Cyril Ramaphosa has acknowledged that some of the financial problems besetting state firms such as SAA and power ulity Eskom, among others, have been caused by outdated business models.
African News Agency