Ethiopian Airlines shows interest in buying South African Airways

The African National Congress (ANC) is considering selling an equity stake in South African Airways although they have no clear strategy for such a deal.

Ethiopian Airlines is one of the fastest-growing airlines in Africa. The purchase deal with the struggling South African national airline is meant to help the company deal with its mounting debt problem.

South Africa’s state-owned enterprises have been in very chronic financial states and have been weighing down the economy. The Finance Minister Tito Mboweni has not had a choice but to allocate additional funds to these debt-ridden companies including SAA, power utility Eskom Holdings and the South African Broadcasting Corporation.

Related;

Ethiopian Airlines to Acquire 20 Planes from Airbus