Creditors approve new business rescue plan for S.Africa's Mango Airline
South African Airways said an amended business rescue plan for its low-cost subsidiary Mango was approved at a meeting of creditors on Thursday, paving the way for the airline to seek an equity partner. “According to the BR practitioners the process to secure a successful bidder, inclusive of concluding the relevant acquisition agreements, is anticipated to be completed by the end of March 2022,” SAA said. Business rescue is a form of bankruptcy protection in South Africa. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2021-12-03/unaligned/creditors-approve-new-business-rescue-plan-for-s-africas-mango-airline
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Creditors approve new business rescue plan for S.Africa's Mango Airline
South African Airways said an amended business rescue plan for its low-cost subsidiary Mango was approved at a meeting of creditors on Thursday, paving the way for the airline to seek an equity partner. “According to the BR practitioners the process to secure a successful bidder, inclusive of concluding the relevant acquisition agreements, is anticipated to be completed by the end of March 2022,” SAA said. Business rescue is a form of bankruptcy protection in South Africa. <br/>
