JOHANNESBURG - South African Airways (SAA) has found a strategic equity partner.
The partner will hold a majority of 51 percent of the airline.
Public Enterprises Minister, Pravin Gordhan, says the new SAA will be sustainable and not rely on the government to fund operations.
"SAA will be owned by a partnership with government and a strategic equity partner. Having evaluated the current environment, the government has agreed to the SEP owning 51 percent of the shareholding and government 49 percent of the shareholding," he said.
It was also announced that the equity partner has committed to prioritising the training and promotion of black pilots.