Local airline Mango’s business rescue proceedings have hit a big government wall.
Embattled state-owned airline Mango is not dead yet, its business rescue practitioner Sipho Sono says, but its future is hanging by a thread held by public enterprises minister Pravin Gordhan.
Near the end of 2022, despite a back-and-forth between SAA and Mango’s BRP over the disposal details, the practitioners provided an optimistic update at the end of November, saying most of the issues were ironed out. In January, the DPE, National Treasury and SAA raised issues around the disposal and the deal. The Mango BRP said he was only informed of these concerns much later than they were originally raised but proceeded to provide the necessary information to the department and Gordhan., and told him he didn’t have the authority to provide the information – delaying any approval of the deal until SAA provided the necessary information, putting the entire plan at risk.
The practitioner said that the interested investor has agreed to keep its offer open, but this is pending the various court processes underway between the BRP and the government. Alternatively, he wants the courts to compel the minister of public enterprises, Pravin Gordhan, to take a decision on the information currently before him.
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