Mango and its labour unions both agree that the airline needs to enter business rescue - a judge will deliver an order on the matter by next Wednesday. | Fin24
Subscribers can listen to this articleA creditor of Mango airlines has withdrawn a liquidation application, in order to allow a business rescue process to play out.
One of low-cost airline Mango's creditors has withdrawn a liquidation application as it waits for the outcome of a possible business rescue process - which a court must still rule on. Judge Michael Antonie, who heard arguments virtually from both sides on Friday, under the South Gauteng High Court, reserved judgment and is set to hand down a ruling by Wednesday.Numsa spokesperson Phakamile Hlubi Majola said the union wants the court to allow their preferred practitioner, Ralph Lutchman, to be involved in the business rescue process.
Hellens also put forward that SAA, which recently completed its business rescue process, would now be competing with Mango."That is the commercial reality out there. One wonders if SAA has the interest of Mango at heart," he added.Subel, however, argued that the delay was not sinister. As a public entity, Mango would require approval from the shareholder - which is government - to go ahead with the business rescue process.
"If anything, the government, Treasury and the minister, we submit, were acting responsibly as they were expected to do in taking a proper view, and a considered view as to whether or not business rescue was the appropriate course," said Subel."[There was] nothing sinister, nothing untoward and there was no contrivances," he added.
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