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SA hires Bain, Abacus to advise on loss-making airlines

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Johannesburg - South Africa has hired Bain & Co. to advise on the strategy and corporate structure of the country’s three loss-making state-run carriers to improve the benefit to the state from owning the airlines.

Bain, based in Boston, was awarded the contract as part of a joint venture with a South African company, Abacus Advisory, according to a posting on the National Treasury’s website. The contract was awarded in October for a three-month period, a spokesperson for the Treasury said in e-mailed comments on Monday.

South Africa’s government is seeking advice on the corporate structure of South African Airways and South African Express, which could lead to the sale of a minority stake in the airlines and the disposal of assets that aren’t central to their businesses, according to a separate invitation-to-bid document.

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