Taxpayers should be happy about the long-term relief that they no longer have to bail out SAA - but selling the airline for scrap metal is equally worrying, given that the public has invested in the airline over the years, writes Ralph Mathekga.
The announcement that a new private partner has bought a majority stake in the beleaguered South African Airways (SAA) seems like good news - until one begins to think about the nature of this transaction.
A few days ago, Takatso consortium announced that the partner will acquire 51% of SAA, while the government remains with a 49% stake. It is good news that the taxpayer will be relieved of having to bail out the airline. The ANC-led government has been criticised for its mishandling of state-owned enterprises (SOEs), most of which are in operational and financial crisis.