CAPE TOWN: South Africa’s struggling national airline SAA said on Wednesday five narrow-body aircraft would be retired from its fleet by December, causing an overall flights reduction of 23 percent, in a bid to return to profitability.
“One narrow-body aircraft has left the fleet, with four more expected to leave the fleet by December 2017,” a presentation to legislators said.
The airline runs one of Africa’s biggest fleets but is loss-making. It received state funds in July to help to repay debts and also depends on government debt guarantees of about 20 billion rand ($1.5 billion).
South Africa’s cabinet will make a final decision on how to recapitalize the airline by end September, Finance Minister Malusi Gigaba earlier said
“Before the end of September, we should have gone to cabinet, proposed the options and cabinet should have taken the decision,” Gigaba said.
“What is a fact is that there is a 10 billion rand capitalization that is required for South African Airways but the source or model of that recapitalization is not yet finalized.”
Gigaba said the other options include a share equity, public-private partnerships and “a full share swap in regard to the Telkom shares.”
South Africa is considering selling its stake in landline provider Telkom to fund SAA’s 10-billion rand bailout. The government holds a stake of about 39 percent in Telkom.
South Africa has also appointed Vodacom Group executive Vuyani Jarana as the carrier’s new chief executive to help for the state airline turn its business fortunes around.
South Africa’s loss-making airline to cut fleet in bid to turn fortunes
South Africa’s loss-making airline to cut fleet in bid to turn fortunes
QIA, Franklin Templeton launch $200m Qatar equity fund
RIYADH: Qatar’s sovereign wealth fund has teamed up with Franklin Templeton to launch a $200 million equity fund focused on the local stock market, part of efforts to deepen liquidity and attract institutional investors to Qatar’s capital markets.
The Qatar Investment Authority and the US asset manager said the Franklin Templeton Qatar Equity Fund will operate as a day-traded mutual fund investing in companies listed on the Qatar Stock Exchange, according to the Qatar News Agency.
The launch follows a series of recent global partnerships by QIA, including a preliminary deal with Goldman Sachs targeting up to $25 billion in investments, as Qatar pushes to diversify its economy and expand its financial sector.
Mohammed Saif Al-Sowaidi, CEO of QIA, said: “With the launch of Franklin Templeton Qatar Equity Fund, QIA is further expanding our Active Asset Management Initiative to support Qatar’s financial markets.”
He added: “As one of the largest global asset managers, Franklin Templeton brings a wealth of experience and resources to QSE and the broader Qatari economy and we look forward to working closely together on this initiative.”
The fund aims to give investors exposure to Qatar Stock Exchange-listed equities, allowing local and international institutions to access an actively managed portfolio in the domestic market, QNA reported.
QIA is the fund’s lead investor, contributing cash and shares, underscoring its commitment to the Qatari stock market. The reallocation of QSE-listed shares is intended to support the domestic economy and enhance market liquidity, it added.
Franklin Templeton manages about $1.68 trillion in assets as of Dec. 31, 2025, making it one of the world’s largest investment firms.
“Through our partnership with QIA, we aim to contribute meaningfully to the continued development of the Qatari financial ecosystem. We see this collaboration as the beginning of a long-term strategic partnership and part of a broader, multi-asset collaboration between Franklin Templeton and QIA,” said Jenny Johnson, CEO of Franklin Templeton.
The Franklin Templeton Qatar Equity Fund represents a key step in QIA’s active asset management strategy and highlights its partnership with Franklin Templeton in supporting Qatar’s capital markets through global investment expertise.
