Mango Airlines business rescue nears investor deal as South African Airways distances itself
Source: Maarten Visser via Wikimedia Commons
Business Rescue Practitioner (BRP) Sipho Sono confirmed that Mango is working to finalise the transaction, which aims to relaunch the airline. This stage follows a lengthy process marked by debates and litigation between Sono, the former Ministry of Public Enterprises, and the South African Airways (SAA) board over concerns regarding transparency related to the identity and financial capacity of potential investors.
As part of the process, Mango is also verifying outstanding claims from passengers who bought tickets before 26 July 2021 for travel dates beyond that, when the airline ceased operations.
In a statement, South African Airways (SAA) moved to clarify its position, emphasising that it has no authority or involvement in Mango's financial obligations, business planning, or claims processes. Mango, though a subsidiary of SAA, entered business rescue in August 2021, separate from the process SAA exited in April 2021.
'SAA has no authority or direct oversight over Mango's financial obligations, current and future business plan,' the airline said. 'We urge affected individuals to follow Mango's official channels for any inquiries related to its business rescue process.'
SAA reaffirmed that it remains focused on its operational priorities, while the outcome of Mango's business rescue lies solely in the hands of the appointed practitioner and the selected investor.
All rights reserved. © 2022. Bizcommunity.com Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Business
2 hours ago
- Arabian Business
Air Arabia Abu Dhabi to launch new UAE to Russia flights
Air Arabia Abu Dhabi has launched seasonal flights between Abu Dhabi and Yekaterinburg, Russia. The service will operate twice weekly from October 27, 2025 to March 27, 2026. The service will connect Zayed International Airport and Yekaterinburg's Koltsovo International Airport. Air Arabia Abu Dhabi flights Air Arabia Abu Dhabi operates a fleet of 12 Airbus A320 aircraft.
Zawya
12 hours ago
- Zawya
South Africa: $56mln loss from Cape Town port delays hits apple and pear exporters
Inefficiencies at the port of Cape Town have cost South Africa's apple and pear export industry an estimated R1 billion in 2024, industry leaders say. They warn that without urgent interventions — including the fast-tracking of the port's privatisation — the country could lose ground in key international markets. The Western Cape Department of Mobility met on Monday, 11 August, with Two-a-Day, one of South Africa's largest apple and pear packing and marketing cooperatives, and logistics partner Link Supply Chain Management for a strategic discussion and site visit. 'We work in a complex, time-sensitive value chain. If a vessel to Europe, the United Kingdom, or the Far East is missed, the sale is gone. You don't get a second chance to deliver on time in a programme-driven market," said Roelf Pienaar, managing director of Tru-Cape Fruit Marketing. 'Logistics is the single biggest risk for us right now. If we can't get our product out, everything else — from on-farm innovation to market development — is compromised." High costs and diverted shipments Two-a-Day operations director Chris Petzer said delays have at times forced shipments to be rerouted to Port Elizabeth at significant cost. 'It's not sustainable, but sometimes it's the only option to prevent greater losses,' he said. Link Supply Chain Management managing director Chris Knoetze said that while there has been some improvement in crane productivity, it remains well below optimal levels. "Given several interventions, like Transnet's appointment and changes at senior management level, the repair and maintenance of equipment, solving personnel matters, focusing on operational improvement and capital investment in new rubber tyre gantry cranes (RTGs) in Cape Town Container Terminal, we should expect to see a step change in productivity to at least twenty gross crane movements per hour (GCH) or more in the coming months. However, the process is still too slow and far removed from the 33 GCH reported by Transnet in November 2012," Knoetze said. He added: "When port operations are disrupted, it impacts product quality, increases costs, and damages our credibility with overseas buyers." Knoetze estimated that the inefficiencies have cost the industry R1bn through additional storage, trucking, and plug-in costs, as well as missed market opportunities. 'We urgently need to fast-track the privatisation of the Cape Town terminal to restore competitiveness." Government's response Western Cape Department of Mobility deputy director-general Corrine Gallant said measures are being taken to address both "landside and waterside inefficiencies". "This includes improving road freight safety and capacity, restoring rail services like the Overberg line, and ensuring that the Western Cape's needs are heard at a national level. We cannot afford more costs in the chain — our focus is on solutions that remove bottlenecks and protect jobs," she said. Western Cape Mobility Minister Isaac Sileku emphasised the need for speed: "We cannot afford to be reactive. We must have formal agreements and mechanisms in place so that when bottlenecks arise, we know exactly which button to press. Speed of execution is critical — our farmers and exporters cannot wait years for solutions." Next steps Stakeholders agreed on the need for: • Faster execution of port and rail improvement projects. • Formal industry-government forums with direct access to decision-makers. • Targeted short-, medium-, and long-term actions to resolve both immediate and systemic challenges. The Western Cape apple and pear industry is a major employer and contributor to the provincial economy. Industry leaders warn that improving the port's efficiency is critical to sustaining jobs and protecting South Africa's standing in global fruit markets. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Zawya
12 hours ago
- Zawya
South Africa: Unemployment rate increases to 33.2%
South Africa's unemployment rate climbed to 33.2% in the second quarter of 2025, Statistics SA revealed on Tuesday, 12 August. According to the Quarterly Labour Force Survey (QLFS) Q2: 2025 results, there was an increase of 19,000 in the number of employed persons to 16.8 million, while there was an increase of 140,000 in the number of unemployed persons to 8.4 million. This resulted in an increase of 159,000 (up by 0.6%) in the labour force during the same period. Stats SA survey reported that discouraged work-seekers decreased by 28,000 (down by 0.8%), and the number of persons who were not economically active for reasons other than discouragement remained unchanged between the first quarter of 2025 and the second quarter of 2025. This led to a decrease of 28,000 in the number of the not economically active population to 16.6 million. The above changes in employment and unemployment resulted in the official unemployment rate increasing by 0.3 of a percentage point from 32.9% in the first quarter of 2025 to 33.2% in the second quarter of 2025. The expanded unemployment rate in the second quarter of 2025 decreased by 0.2 of a percentage point to 42.9% when compared with the first quarter of 2025, which was 43.1%. Formal vs informal employment The number of persons employed in the formal sector increased by 34,000 in Q2: 2025, and the informal sector employment decreased by 19,000 over the same period. The largest industry increases in employment were recorded in Trade (88,000), Private households (28,000) and Construction (20,000). Decreases in employment were recorded in Community and social services (42,000), Agriculture (24,000), Finance (24,000), Transport (15,000), Utilities (6,000) and Manufacturing (5,000). The results also indicate that the highest increases in employment were observed in Gauteng (95,000) and Eastern Cape (89,000), while decreases were observed in Western Cape (117,000), KwaZulu-Natal (86,000) and Northern Cape (28,000). Youth unemployment The youth (15–34 years) remain vulnerable in the labour market. The results for the second quarter of 2025 show that the total number of unemployed youth increased by 39,000 to 4.9 million compared with Q1: 2025, while employed youth recorded an increase of 31,000 to 5.7 million. As a result, the youth unemployment rate remained unchanged at 46.1% in the second quarter of 2025.
