The Tanzanian government has formally confirmed the dissolution of the joint-venture between the Air Tanzania Corporation Limited and the South African Airways.

Local English newspaper Daily News on Wednesday quoted Tanzanian Infrastructure Development Minister Basil Mramba as saying in Dodoma that the breakup had been agreed upon two weeks back.

"It is over," said the minister, "There is no more business relations between the two airlines."

But the minister did not elaborate on the fate of the local airline company.

The Air Tanzania Corporation Limited, formerly known as the Air Tanzania Corporation, was privatized in December 2002 as the South African airline company bought 49 percent of its shares at 20 million U.S. dollars.

The Tanzanian government retained the remaining shares for itself since.

Source: Xinhua