Question NW728 to the Minister of Public Enterprises
04 April 2024 - NW728
Magaxa, Mr K to ask the Minister of Public Enterprises
(1) Whether he has found that it will be appropriate to conclude the SA Airways (SAA) and Mango business rescue processes before the start of the 7th administration; if not, why not; if so, what are the relevant details: (2) what progress has been made by Global Aviation and Syranix in terms of selling their stake in Takatso Consortium to satisfy the conditional regulatory requirement of the Competition Commission for finalising the sale of the SAA?
Reply:
- The SAA business rescue process concluded on April 30, 2021, subsequent to the filing of the Notice of substantial implementation of the Business Rescue Plan by SAA Business Rescue Practitioners. Meanwhile, the business rescue process for Mango is ongoing and being managed by the Mango Business Rescue Practitioners. Its finalization hinges upon the substantial implementation of the Business Rescue Plan and the filing of the Notice of substantial implementation with the CIPC by the Business Rescue Practitioner. We are awaiting further legal advice on how we conclude the Mango matter.
- The divestiture process involving Takatso Aviation (Pty) Ltd's minority shareholders was overseen by Takatso itself, rather than the Department of Public Enterprises. However, following the recent termination of the SEP transaction by the Parties, there is no longer a requirement to fulfil this condition.