The government has resolved to sell portions of embattled national airline, South African Airways, to private companies, according to Sowetan Live.

The decision was taken at the ANC’s national executive meeting last week.

According to the report, the government first considered selling SAA in its entirety but it was agreed that the likelihood of anyone buying it was minimal because of its poor financial state.

Instead of bearing the costs of its debts, the government has resolved to look at international airline carriers to buy a portion of SAA.

A R5,5bn bailout has been approved for the carrier for the 2019/2020 financial year, adding to the R10bn it received in this and last year’s financial periods.

The government is also considering merging SAA with SA Express.

This is a developing story. Follow eTNW for more.

SOURCE