NYTimes.com Article: SAA Buys 49 Percent Air Tanzania Stake

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SAA Buys 49 Percent Air Tanzania Stake

December 2, 2002


By THE ASSOCIATED PRESS






Filed at 8:51 a.m. ET



JOHANNESBURG, South Africa (AP) -- South African Airways,
the national carrier, has completed its purchase of a 49
percent stake in Air Tanzania for $20 million.

``This partnership does not only offer opportunities for
growth, but also for establishing a strong and reliable
presence in East Africa,'' SAA's chief executive officer
Andri Viljoen said in a statement Monday.

Half of SAA's $20 million investment will be used for Air
Tanzania training and acquiring new equipment. The
Tanzanian government is to retain a 51 percent stake in the
carrier.

The acquisition is SAA's first deal outside of South
Africa.

http://www.nytimes.com/aponline/business/AP-South-Africa-Airways-Acquisition.html?ex=1039838762&ei=1&en=8c056b43b4d187d6



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