Mango’s business rescue plan gets cleared for take-off

Mango’s business rescue plan gets cleared for take-off

2021-12-03 02:32:00 AM

Mango’s business rescue plan gets cleared for take-off

Mango’s business rescue plan has been given the green light by its creditors, opening the way for it to start negotiating with a potential strategic investor to help relaunch the low-cost carrier’s operations.

“They hope to have interested parties in place before the end of March.”  Mango is to remain mothballed until there is a partner in place, said Butler.Mango and SAA did not immediately respond to requests for comment. This article will be updated when they do.

The original business rescue plan, published on October 29, intended to save most of the jobs at the airline — but Mango confirmed last month that a greater number of employees will now be affected.SAA’s request for a revised plan and the fact that the airline would be mothballed was described by the Mango Pilots' Association in November as a blow, as it meant “sacrificing the entire workforce at Mango”.

It dashed any hopes of the low-cost carrier being back in the sky by December for the lucrative festive season, as originally envisaged in the proposed business rescue plan.It also means that of the 708 jobs at Mango, more are likely to be lost than originally thought. headtopics.com

Butler said on Thursday that Mango had revived R320m from the department of public enterprises, which will be used to pay retrenchment packages. ​

Read more: Sowetan LIVE »

South African Depression and Anxiety Group

SADAG - South African Depression and Anxiety Group

I recieved my withdrawals successfully,I must say being an investor with this company platform is one of the greatest thing’s that have ever happened to me I recommend everyone to this lifetime investment project and investment company David1Amelia

Mango’s business rescue plan is cleared for take-offMango’s business rescue plan has been given the green light by its creditors, opening the way for it to start negotiating with a potential strategic investor to help relaunch the low-cost carrier’s operations.

Creditors give Mango’s business rescue plan the go-aheadNo potential strategic equity partner has been named yet, but the process will begin ‘in the coming days’ Is every state owned entity getting business rescue

Creditors give nod to CNA business-rescue planMore than 78% of those owed money — including retrenched staff, suppliers and landlords — vote to save the chain For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to him Arnoldnike93 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success⚖️

BREAKING NEWS: Alexander Forbes appoints former Absa CEO Daniel Mminele to its boardMminele will take over as chair from Marilyn Ramplin, who plans to retire from the role in early 2022 to focus on her own business interests

Bekker and Schietekat share early lead at SA OpenGolfers are tied for the lead and one stroke clear of Bryce Easton and Lyle Rowe

SNAPS | AKA shows off his new ink of Michael JacksonAKA gets another tattoo of his 'favourite artist MJ'. THE FUTURE depends on what you do today, start doing what's necessary, then what's possible and suddenly you are doing the impossible.. We may also help by getting you join in our Forex trading investment platform..!! DM to get started📩 Wow.. Just made my year knowing that..