National A R21bn Christmas gift for SAA too good to be true? City Press reported on Sunday that a local aircraft leasing company and a US private equity firm have offered R21bn for a controlling stake in SAA BL PREMIUM

A report on Sunday of a R21bn offer for a 51% stake in South African Airways (SAA) has been greeted with disbelief and scepticism by the DA, among others.

According to City Press, Fly Modern Ark — which describes itself on its website as a 100% South African black owned aircraft leasing company — has offered to buy a controlling stake of state-owned enterprise SAA for R21bn with the backing of US private equity firm Cerberus Capital Management.