In response to increasing public enquiries regarding Mango Airlines, South African Airways SAA has issued a statement aiming to clarify its role in the ongoing business rescue process of the airline, Cape town Etc reports.
This informative move comes after Mango Airlines, a subsidiary of SAA, was placed into business rescue in August 2021, a situation entirely distinct from SAAs own exit from business rescue in April 2021.
SAA emphasised that it has no authority or oversight concerning Mango Airlines' financial obligations, nor its current or future business plans. The clarity is essential for assuring the public that Mango's path forward is independent from that of its parent company.
The latest update from Mango Airlines comes from Business Rescue Practitioner BRP Sipho Sono, who indicated that the airline is on the brink of finalising a sale and purchase transaction with a selected investor, a critical step toward reviving the beleaguered air carrier.
This phase follows extensive discussions and even litigation involving Sono, the former Ministry of Public Enterprises, and the Board of SAA over the desired level of transparency regarding the identity and financial capabilities of the potential investors.