THURSDAY, 11.00AM
GOVERNMENT intends making a final decision on the process of privatising SA Airways next month, Public Enterprises Minister Stella Sigcau’s ofice said on Wednesday.
Spokesman Wandile Zote said the interministerial cabinet committee will decide the issue on October 16. He added no decision has yet been made on the percentage stake for sale, though Transnet MD Saki Macozoma said in London on Tuesday the 25%-30% of SAA will be sold to a strategic equity partner. He suggested the number of shares might be boosted by sales to staff and a black economic empowerment allocation. Macozoma’s statement suggests he is moving towards the position of Transport Minister Mac Maharaj on the issue. They recently clashed publicly about the percentage stake for sale.
Maharaj said that government might raise its initial offer to sell 25% of the airline to 49%, which drew a strong response from Macozoma. Zote on Wednesday said Macozoma’s comments do not contradict Maharaj’s statement on the 49% stake, explaining that the 49% referred to by Maharaj includes staff and empowerment allocations.
Several foreign carriers have expressed interest in buying into SAA, including British Airways, Lufthansa and Virgin Atlantic.