South Africa is seeking potential minority investors, access to capital markets, and loan financing for South African Airways to expand more rapidly following the collapse of a previous equity deal, the national flag carrier\u2019s interim Chairman Derek Hanekom said on local broadcaster eNCA.<\/p>\n\n\n\n
Hanekom said the airline had to revise its expansion plans after talks were scrapped and has now delayed opening more international routes to London, Frankfurt, and North America. \u00a0<\/p>\n\n\n\n
The South African government had planned to sell 51% of SAA to the Takatso group\u2014made up of closely held Global Airways and private equity firm Harith General Partners\u2014before the deal was called off last month. <\/p>\n\n\n\n
The transaction would have resulted in an R3 billion cash injection for the airline, which had previously emerged from lengthy bankruptcy proceedings following years of state bailouts. \u00a0<\/p>\n\n\n\n
\u201cIf we are able to get capital from whatever source, then we may be able to expand more rapidly,\u201d Hanekom said on eNCA. <\/p>\n\n\n\n
The airline is currently growing at a slow but sustainable rate, with no government subsidies, he added.<\/p>\n\n\n\n
Within the next financial year, SAA will grow its fleet from 13 to 21 aircraft, Hanekom said. <\/p>\n\n\n\n
He said the airline has added several routes into Africa and some international routes to Sao Paulo and Perth, Australia.<\/p>\n\n\n\n
Hanekom also said that the search for permanent executives for SAA and some of its units is underway.\u00a0<\/p>\n\n\n\n