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Minister Pravin Gordhan s indecisiveness hobbles rescue plans at Mango airlines
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Santaco confirms Mango Airlines takeover bid after leaked business rescue practitioner s reply letter
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How high-flying Mango Airlines wings were clipped
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Retrenched SAA pilot hoping to teach in New Zealand as job prospects remain low
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By Reuters Staff
1 Min Read
JOHANNESBURG, July 27 (Reuters) - South African Airways (SAA) subsidiary Mango Airlines temporarily suspended all flights and services on Tuesday until further notice due to outstanding payments to Air Traffic Navigation Services, Mango acting CEO William Ndlovu said.
“Senior management and our shareholder are locked-in in emergency discussions to find an amicable solution to this impasse,” Ndlovu said in a statement.
The budget carrier is in a dire financial position despite the South African parliament having approved a special allocation of 2.7 billion rand ($182.3 million) for SAA subsidiaries.
On Monday SAA’s interim chief executive Thomas Kgokolo said Mango will enter a local form of bankruptcy protection known as business rescue.