Source: BloombergUAE Airlines in Talks With South African Airways, City Press Says
By: Felix Njinion: 22 July 2018||In: Aviation
Two United Arab Emirates airlines have held talks with South African Airways, which has said it urgently needs partners to revive its business, City Press reports, citing Mahash Alhameli, the UAE ambassador to South Africa.
Talks between Emirates Airline and SAA, which have been going on for some months, are being facilitated by the UAE’s embassy in Pretoria, Alhameli said. Etihad Airways has also been holding separate negotiations with SAA, he said.
“It’s company-to-company talks,” Alhameli said, according to the newspaper. “As ambassador, I’m facilitating that.”
The UAE plans to invest as much as $10 billion in South Africa’s economy, a commitment made during a visit by the nation’s President Cyril Ramaphosa’s visit this month.
While the U.A.E. sees potential to invest in the state-owned power utility, Eskom Holdings SOC Ltd., those discussions aren’t as advanced as the airline talks, Alhameli said. The UAE is aware of financing needs for SAA and Eskom and talks started before the Gulf nation announced a pledge to invest, he added.
SAA is urgently seeking a strategic equity partner as an answer to its financial problems, spokesman Tlali Tlali said July 10.
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- Richard Cranium
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Don't hold your breath on this. I'm sure there are equity partners out there but they would want some say or leverage for chucking a whole bunch of cash at the airline