It is unreasonable to expect that the new strategic equity partner of South African Airways (SAA) – the Takatso Consortium – will sign a cheque of R3 billion on day one of the airline’s start-up, says its CEO, Gidon Novick.
He is also the co-founder of kulula.com and SA’s newest low-cost airline LIFT, which started operating in December last year.
SAA’s shareholder, the Department of Public Enterprises (DPE), announced a week ago that it has chosen the Takatso Consortiun as strategic equity partner. The public-private partnership with the DPE foresees that the consortium will put in about R3 billion over the next few years.