South African Airways (SAA) says there are no \u201creasonable prospects\u201d of Mango Airlines succeeding if it takes to the skies again this December.<\/p>\n<\/p>\n
Mango, which is a subsidiary of SAA and is government owned, is currently undergoing business rescue after it was grounded in July following years of financial instability.<\/p>\n<\/p>\n
\u201c[T]here are no reasonable prospects of Mango succeeding should it be operationalised prior to obtaining an investor or equity partner. SAA\u2019s position is that this process should be finalised as soon as possible. [O]perations should only resume thereafter thus mitigating the risk of Mango not being able to financially sustain itself going forward,\u201d SAA said in a statement on Monday.<\/p>\n<\/p>\n
SAA, which itself only recently took to the skies again after a period in business rescue, added that operationalising Mango Airlines in December is not the correct step to take.<\/p>\n<\/p>\n
\u201cSAA does not believe the current plan presented by the [Business Rescue Practitioners] that Mango resume operations in December is feasible and asked\u2026for the current plan to be reviewed and for an amended version to be presented.<\/p>\n<\/p>\n
\u201c[T]he current aviation environment the world over is highly volatile and there are variables which cannot be predicted with any level of certainty, chief among them are probable new waves of COVID 19,\u201d the airline said.<\/p>\n<\/p>\n
Following reports that SAA’s board is at odds with Mango’s business rescue practitioners, SAA emphasised that it is working with Mango\u2019s business rescue practitioners and is looking forward to the finalisation of Mango\u2019s operationalisation plan.<\/p>\n<\/p>\n
Source: South African Government News Agency<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"
South African Airways (SAA) says there are no \u201creasonable prospects\u201d of Mango Airlines succeeding if it takes to the skies again this December.Mango, which is a subsidiary of SAA and is government owned, is currently undergoing business rescue after it…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"yoast_head":"\n