Business South Africa

Mango airlines’ business rescue runs into a funding snag

SAA: No way for Mango to fly by December 

Frail budget airline Mango will not resume operations in December this year as outlined in its business rescue plan, if its shareholder SAA and ultimate shareholder the Department of Public Enterprises, have their way.

There was an exchange of correspondence between SAA interim chairperson Profession John Lamola and business rescue practitioner Sipho Sono, wherein Mango is explicitly instructed not to pursue the intent of the plan, published at the end of October.

This could mean the end of Mango and all 709 jobs soon. The SAA chair argues that “SAA as the sole shareholder of Mango was not in a position to provide nor to motivate to SAA’s shareholder for any capital injection required to return Mango to commercial operations.”

Related posts

Bolt launches ‘women-only’ taxi service

Loveworld

Political Analyst, Ongama Mtimka unpacks The Court’s decision

Loveworld

Town Hall Debate: Health Amendment Act imposed for South Africans

Loveworld

Leave a Comment