State seeks R6.1bn for SAA stake

Government is looking to raise $400 million (about R6.1 billion) from the sale of a stake in South African Airways, a plan likely to lower the chances of finding a partner to aid its revival.

According to Bloomberg sources, the funds would be used to re-capitalise the reformed SAA. Joachim Vermooten, an independent aviation analyst, said no other airline will want to put in money to subsidise SAA, adding it is not a viable proposition.