Takatso gets green light to acquire 51% of SAA

JOHANNESBURG - The Competition Tribunal has conditionally approved the proposed merger of Takatso Aviation and South African Airways.

Takatso will be acquiring a 51-percent stake in SAA from the government.

The Tribunal's approval is subject to a moratorium on retrenchments, and disinvestment by Takatso's minority shareholders.

The Tribunal says it will detail its reasons for the decision in due course.

The Public Enterprises Department has welcomed the decision, saying it will allow SAA to fulfill its mandate and contribute to economic growth.

Takatso says the decision will boost competition in the airline space.