Mango risks being grounded in May

[rvZA]

Mango risks being grounded in May

SAA woes trickle down to subsidiary.

www.moneyweb.co.za

Mango Airlines could be grounded from May 1 due to lack of funds, according to an internal communication sent by acting CEO, William Ndlovu.

Ndlovu says the low-cost South African Airways (SAA) subsidiary has been waiting since January to receive R2.7 billion out of the R10.5 billion allocated to SAA in October’s Medium-Term Budget Policy Statement.

 

[rvZA]

Shame man... is SAA and the South African Government bankrupt?

 

[BBSA]

Shame man... is SAA and the South African Government bankrupt?

Depends, does our pension money count?

 

[rvZA]

Depends, does our pension money count?

Looking at all their debt, pension fund money will not last them 3 months, if that long. Then the schemes, private included, will collapse too.

 

[Gordon_R]

Taxpayer money on its way:

SAA gets R2.7bn windfall for subsidiaries including Mango and SAA Technical | Business

An amount of R2.7 billion is set to be reprioritised from the appropriation to South African Airways to implement the business rescue plan, and subsidiaries.

www.news24.com