South African Airways bailout plans emerge from private investors

South Africa’s government received proposals from private financiers interested in investing in a restructured state airline.

The expressions of interest from private equity investors and potential airline partners come less than a week after administrators trying to revive South African Airways proposed the government provide a 26.7 billion-rand ($1.5 billion) bailout for the carrier.

“Government is intent on pursuing credible proposals for investment and strategic partnerships with the private sector, as well as equity participation for employees. Such partners will also introduce technical, financial, and operational expertise,” the Department of Public Enterprises said in a statement Tuesday. It didn’t identify the potential investors.

Ethiopian Airlines Group is prepared to come to the rescue of stricken carriers around Africa, though no negotiations have taken place with SAA, the Ethiopian carrier’s chief executive officer, Tewolde GebreMariam, said last month.