Deals
Ethiopian Will Weigh Stake in South Africa’s Debt-Ridden Airline
- Africa’s biggest carrier wants to support southern rival
- South Africa’s government hasn’t formally requested help
Photographer: Waldo Swiegers/Bloomberg
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Ethiopian Airlines Group would consider buying a stake in South African Airways -- should South Africa decide to sell equity in the struggling state carrier.
SAA hasn’t made a profit since 2011 and last week delayed the release of annual earnings due to its precarious financial state. While the ruling African National Congress has frequently said that it would consider selling equity in the airline, there’s been no visible strategy for such a plan, said Tewolde Gebre Mariam, the chief executive officer of Ethiopian, Africa’s biggest and only consistently profitable airline.