South Africa Scraps Sale of National Airline, Minister Says (1)

South Africa’s government terminated a deal to sell a controlling stake in its flag carrier after failing to agree on a fair value and other terms, Public Enterprises Minister Pravin Gordhan said.

The government had planned to sell 51% of loss-making South African Airways to the Takatso group, which is made up of closely held Global Airways and private equity firm Harith General Partners, but the talks were called off, Gordhan told reporters in Cape Town on Wednesday.

“We are convinced that SAA can sustain itself in the next year to 18 months and that there are various other ...