The July 1 take-off date for the revamped South African Airways is likely to be delayed to August 1, Public Enterprises Minister Pravin Gordhan told Parliament's portfolio committee on public enterprises on Wednesday.
But he was short on detail when it came to the proposed strategic equity partner, which is expected to be the airline’s panacea – removing the debt burden from the taxpayer.
The sensitivity around the issue, he said, was because the private sector was involved and legal and financial agreements had to be finalised.
While there appears to be an agreement in principle, he said due diligence could take six to eight weeks.
Gordhan did however make it patently clear that further bailouts were off the table. He was quoted in a Fin24 article as saying that the strategic equity partner would come with cash. “The bargain we entered into is that government takes responsibility for the R14 billion [previously allocated]."
