The EFF on Monday said it had instructed its lawyers to challenge the sale of loss-making SA Airways (SAA).
In February, the government announced it had concluded the sale of a 51% interest to private consortium Takatso without disclosing the price of the sale.
Last week, SowetanLIVE's sister publication BusinessLIVE reported that the National Treasury said it was not consulted on the sale of the stake, which it said cost R51.
Addressing media on Monday, Malema slammed the transaction.
“We condemn and oppose the disposal of SA Airways because its disposal is not justifiable and corrupt. There is absolutely no rationality in selling off an airline for R51 to people who are linked to and controlled by the white capitalist establishment.
“We will do everything in our power to reverse the sale of SAA because it is evident that all state-owned companies will first be made to not function well and thereafter given for free to the white capitalist establishment.”