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Mango sale in jeopardy as it awaits key approvals | Business

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A 'sudden turn of events' in that Minister of Public Enterprises Pravin Gordhan has not yet approved the sale of Mango, means the transaction may have to be abandoned and the airline wound down. | News24_Business

Minister of Public Enterprises Pravin Gordhan has not approved the sale of Mango within the period allowed by the Public Finance Management Act.

This is according to the latest status report to creditors released by the airline's business rescue practitioner, Sipho Sono, on Thursday. Sono states in his latest report that, regrettably, Gordhan has not made a decision yet. The PFMA allows for an application to be deemed as approved if there is no response within 30 days. However, SAA and its shareholder, the Department of Public Enterprises , agreed on an extension period.

 

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