South Africa receives proposals for new national airline

Reuters has reported the South African government has received unsolicited proposals for a new national airline based on struggling South African Airways (SAA), the news source said.

The proposals come from private sector funders, private equity investors and potential partners.

SAA has been under a form of bankruptcy protection since December, and its administrators earlier this month proposed a restructuring plan for which the government had to find at least 10 billion rand ($580 million) of new funds.

The Department of Public Enterprises said in a statement: Government is intent on pursuing credible proposals for investment and strategic partnerships with the private sector, as well as equity participation for employees.