He said no potential strategic equity partner had been named yet, but the process would open “in the coming days”.Mango is to remain mothballed until there is a partner in place, said Butler.
Mango and SAA did not immediately respond to requests for comment. This article will be updated when they do. The original business rescue plan, published on October 29, intended to save most of the jobs at the airline — but Mango confirmed last month that a greater number of employees will now be affected.
SAA’s request for a revised plan and the fact that the airline would be mothballed was described by the Mango Pilots' Association in November as a blow, as it meant “sacrificing the entire workforce at Mango”. It dashed any hopes of the low-cost carrier being back in the sky by December for the lucrative festive season, as originally envisaged in the proposed business rescue plan.Butler said on Thursday that Mango had revived R320m from the department of public enterprises, which will be used to pay retrenchment packages.
I recieved my withdrawals successfully,I must say being an investor with this company platform is one of the greatest thing’s that have ever happened to me I recommend everyone to this lifetime investment project and investment company David1Amelia
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mango’s business rescue plan is cleared for take-offMango’s business rescue plan has been given the green light by its creditors, opening the way for it to start negotiating with a potential strategic investor to help relaunch the low-cost carrier’s operations.
Source: TimesLIVE - 🏆 28. / 59 Read more »
Creditors give Mango’s business rescue plan the go-aheadNo potential strategic equity partner has been named yet, but the process will begin ‘in the coming days’ Is every state owned entity getting business rescue
Source: BDliveSA - 🏆 12. / 63 Read more »
Creditors give nod to CNA business-rescue planMore than 78% of those owed money — including retrenched staff, suppliers and landlords — vote to save the chain For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to him Arnoldnike93 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success⚖️
Source: BDliveSA - 🏆 12. / 63 Read more »