Terminate the Takatso deal and liquidate SAA
28 September 2022
Note to editors: Please find attached soundbite by Alf Lees MP.
The DA calls for the immediate cancelation of the SAA/Takatso deal and liquidation of South Africa Airways(SAA) without any further taxpayer bailouts.
The clandestine deal between SAA and Takatso has taken 16 months to conclude but has not been implemented. In addition, court action has been launched by an unsuccessful bidder for the purchase of the airline or a part thereof.
It is likely that SAA has run up new operational losses in the region of R1 billion or more since its post business rescue operations resumed, and the proceeds from a liquidation are unlikely to meet these new liabilities. Furthermore, Takatso has reportedly indicated that they are not willing to take on any of SAA’s legacy debt, but only willing to fund future operations.