A consortium of investors, led by South Africa's Fly Modern Ark and US-based Cerberus Capital Management, are looking to acquire a 51% stake in South African Airways (SAA) in exchange for proving a US$1.43 billion loan to the airline.

Talks are reportedly underway between the parties, however the South African government denies such discussions are currently in progress as SAA must first stabilize its operations.

SAA has recently secured funds from lendors to cover its operations through to March 2019, with the government seeking to raise sufficient funding to meet immediate and medium-term liquidity needs, and an equity partner to help the carrier in the long-term.