Mango
business rescue practitioner Sipho Sono is taking SA Airways and Public Enterprises Minister Pravin Gordhan to court – in a last ditch attempt to force the airline’s keepers to sign off on its sale, which has been delayed by months.Once the only profitable stateowned enterprise, Mango has been idling in business rescue for two years. SAA said: “Mr Sono is asking the court to compel the minister to approve the sale of Mango as a matter of urgency.
In its statement, SAA acknowledged that Sono was unhappy about questions relating to the bidder’s identity and queries about capability. He previously said a thorough due diligence was completed prior to the bidder qualifying for a seat at the table. “I’m satisfied with the current investor so I’m not entertaining any other suitors as, without a ministerial approval for the disposal, it would not matter how many other suitors there are,” said Sono.
SAA stood firmly behind its shareholder: “The minister has the right to seek as much information as necessary for him to act responsibly in supporting an asset disposal application.