According to the information received from SAA
- The record shows that during Coleman Andrew’s tenure as CEO, the Board on 14 April 2000, considered the sale and leaseback of B737-200 aircraft and approved:
- The sale of 13 B737-200 ADV aircraft (11 passenger and 2 freighters) to SafAir, or a party nominated by SafAir acceptable to SAA.
- That SAA enters a 5 and half year leaseback in respect of each aircraft.
- That SAA leases an additional 3 B737-200 aircraft from SafAir if required by the Airline; and
- That SAA leases 2 new generation narrow-body aircraft from SafAir provided the terms were equal or better than the other offers received by SAA.
Note that SafAir is a South African aircraft leasing company and there was no declaration in the minutes that this company was owned by Mr. Andrews.
- Based on the above Board resolution, the sale was authorized by the Board at the time.
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Remarks: Reply: Approved / Not Approved
Jacky Molisane P J Gordhan, MP
Acting Director-General Minister
Date: Date: