SAA to self-sustain for 18 months, Takatso deal called off: Gordhan

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Public Enterprises Minister Pravin Gordhan says he is confident that South African Airways (SAA) can survive for up to 18 months. He has also announced that the deal with SAA’s proposed equity partner, Takatso Consortium, has been called off.

Speaking to the media at Parliament in Cape Town on Wednesday, Gordhan said a number of factors played a role in the mutual agreement to end the deal, saying there are ways for the SOE to sustain itself for at least a year to a year and a half.

“SAA we are convinced by numbers we have, it can sustain itself for year, next 18 months. and that various ways, other ways, in which immediate financing can be obtained, but at no stage in coming months, will SAA get money from fiscus.”

SAA-Takatso deal

Gordhan has lambasted those who have made accusations against him of corrupt dealings around the SAA-Takatso Consortium deal. He chastised those who had questioned the deal as being corrupt.

“Suddenly I have become a corrupt person in the eyes of some, with no iota of proof, but will find that I have not stolen one cent of public money, you won’t. Nobody can find that. Don’t try and disgrace my name or integrity. None of the people asking these questions have been held in detention or by security police prior to 1994.”

Political pressure

The Minister has explained that the deal between SAA and Takatso Consortium was not ended because of political pressure. He says the decision was made by mutual agreement and not due to any pressure from any quarter.

“This was not done under any pressure. Professionally, we came to the point that this is not the best way for SAA to be taken through and I don’t give into any political pressure.”

VIDEO: Gordhan announces SAA-Takatso deal is off: