The Department of Public Enterprises on Wednesday said SA Express was on the verge of being sold to a private buyer.
The struggling state-owned airline is currently under liquidation, but the department has identified a buyer who’s in the process of taking ownership of the airline’s assets.
Public Enterprises Minister Pravin Gordhan has on Wednesday briefed a parliamentary committee on the current state of SOEs like Eskom and SAA.
The purchase price for SA Express is pegged at exactly R50 million.
This will be payable as a bank guarantee, which would be offset by the sale of assets with the balance being payable and recovered from the bank guarantee.
The department’s Director-general Kgathatso Tlhakudi said he hoped the new private owners would be able to make it competitive locally.
“And the great development here is that these buyers include ex-employees of SA Express.”
A public online auction for the airline’s assets closed on 18 November.
The total sale amounted to over R24 million and the remaining assets will be auctioned off at a reduced rate at a later stage.
-EWN
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