The Department of Public Enterprises welcomes the High Court judgement today to place Mango SOC Ltd under business rescue effective from 28 July 2021.
The Boards of South African Airways SOC Ltd and Mango took a resolution to place the low- cost airline under business rescue due to financial and operational challenges.
The decision is good news for all stakeholders in the aviation industry as it brings certainty to the process that will unfold to restructure Mango and ensure we have a sustainable aviation asset that will service the low cost market in the country.
The restructuring of the SAA subsidiaries, Airchefs (Section 189 ) South African Airways Tech- nical (section 189) and Mango will ensure that once restructured, the SAA Group will have “fit for purpose” subsidiaries that will support and become the conduit for growth of the aviation industry in the country.
Source: Government of South Africa