Mango’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 operations.
The creditors’ meeting went ahead on Thursday morning, with Jordan Butler, chair of the Mango Pilots’ Association saying afterwards that the plan was “adopted by 84.36% of creditors”, with a vote of 75% being required to pass it. “The business rescue practitioner envisaged that the investor process will be completed by the end of March 2022, barring any Competition Commission hurdles that may arise. But they don’t perceive it to be a problem unless it is another local airline that Mango merges with.”
Is every state owned entity getting business rescue
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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.
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