July announcement expected
FOUR BIDDERS have been placed on a shortlist for a 20-25% stake in South African Airways, and they have until tomorrow (June 19) to present final offers for a share in the national carrier.
"We expect a final announcement on who the new partner will be sometime early in July, but that will depend on how long the final negotiations take," says Douglas McClure, a spokesman for the ministry of public enterprises.
"The ministry is delighted with the progress it has made to date. We now have four companies who have gone back to reconstitute their bids."
He declined to name the four, although it is generally accepted that Lufthansa, with partner Singapore Airlines, and Swissair are at the top of the list.
The other two are likely to be KLM Royal Dutch Airlines with US partner Northwest Airlines, and American Airlines, who are codeshare partners with SAA.
According to McClure, a government delegation is scheduled to embark on an overseas roadshow for final talks with the prospective partners from June 21. SAA has announced that it now expects to raise more than the originally anticipated R1billion from the sale.
By Leonard Neill
Copyright Now Media (Pty) Ltd
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