South Africa's Mango Airlines to enter business rescue
South African Airways subsidiary Mango Airlines will enter a local form of bankruptcy protection known as business rescue, SAA’s interim CE Thomas Kgokolo told eNCA television on Monday. The budget carrier is the fourth South African airline to be placed under business rescue since late 2019, with South African Express placed under provisional liquidation after rescue efforts failed. SAA, which itself exited business rescue in April, and Mango are among a handful of South African companies that have relied on government bailouts since before the COVID-19 pandemic, placing the national budget under additional strain. “What we can say is that the board and shareholders have agreed that Mango will go into business rescue,” Kgokolo told eNCA. “We are currently in consultation with our key stakeholders in terms of how we can manage that particular process.”<br/>
https://portal.staralliance.com/cms/news/hot-topics/2021-07-27/unaligned/south-africas-mango-airlines-to-enter-business-rescue
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South Africa's Mango Airlines to enter business rescue
South African Airways subsidiary Mango Airlines will enter a local form of bankruptcy protection known as business rescue, SAA’s interim CE Thomas Kgokolo told eNCA television on Monday. The budget carrier is the fourth South African airline to be placed under business rescue since late 2019, with South African Express placed under provisional liquidation after rescue efforts failed. SAA, which itself exited business rescue in April, and Mango are among a handful of South African companies that have relied on government bailouts since before the COVID-19 pandemic, placing the national budget under additional strain. “What we can say is that the board and shareholders have agreed that Mango will go into business rescue,” Kgokolo told eNCA. “We are currently in consultation with our key stakeholders in terms of how we can manage that particular process.”<br/>
