Mango blocked from resuming flights

[Jan]

No go for Mango

Low-cost airline Mango will not resume flights as set out in its original business rescue plan and will have to retrench more employees than anticipated following a meeting of its creditors on Monday.

 

[RonSwanson]

Lekker AA and BEE.

 

[Kodi]

No need to stress, Cyril is working on a plan.

 

[dualmeister]

Can we blame Covid?

 

[ThinkCentre]

It does not seem that SAA is going to fly soon either!

 

[ToxicBunny]

All good, private buyers are lining up to buy this entity in all its completely glorious nature.

 

[ShaunSA]

Who needs Mango. The taxi guys airline will be up and running shortly

 

[JohnStarr]

Low cost...lol!

 

[grok]

Under the original business plan, it was envisaged that creditors would receive 5.23 cents for every rand owed to them. That means the holder of a R1,000 ticket would only be refunded R52.30.

Applied from the minds of the same geniuses that gave us state capture, Zuptas & load-shedding..

 

[Gordon_R]

Don't hold your breath:

STRANDED ASSET: Anyone want an airline? Mango will stay grounded until it finds private sector investors

The government and SAA have washed their hands of raising money for Mango to fund the implementation of its business rescue plan, which proposes that the airline restart its flight operations in December to take advantage of the peak travel season.

www.dailymaverick.co.za

 

[Brawler]

Wasn't Mango a success a few years ago under the Nico guy?

 

[Johnatan56]

Wasn't Mango a success a few years ago under the Nico guy?

Yes/no, it's books were profitable, it was probably just hiding a lot of expenses under South African Airways.

OPINIONISTA: Mango low-cost airline — a story of profitability that is too good to be true?

It appears unlikely that all Mango’s expenses have been accurately reflected in its accounts and that perhaps the SAA Group, with the assistance of some creative accounting, has been of the view that a more palatable story to sell taxpayers and the Department of Public Enterprises is of a group...

www.dailymaverick.co.za