Mango could take to skies again ‘soon’, says business rescue practitioner
Mango could soon take to the skies again, with the low-cost airline said to be inching closer to sealing the deal with a buyer.
The SAA subsidiary entered business rescue in 2021.
It was grounded by the Airports Company South Africa after failing to pay landing and take-off fees.
Mango's business rescue practitioner, Sipho Sono, says finding an investor was finalised two years ago.
He said they hit a snag with the Minister of Public Enterprises, Pravin Gordhan when they tried to get him to improve the disposal of the shares.
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"We have then been stuck in that process. He has not made a decision, and we had to take him to court. The high court granted an order in our favour, forcing him to make a decision.
"We assume that the approval has been obtained. He tried to appeal that decision, the appeal was dismissed, and he intended to go to the Supreme Court to appeal further, but he missed the deadline,” said Sono.
In not approving the disposal, Minister Gordhan had said that the department was still waiting for information from the Business Rescue Practitioner to enable him to make the decision, including a detailed business plan and foreign ownership details.
Sono said because of the court order not being suspended they can proceed with the sale and resume operations.
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