Senior reporterMango's business rescue plan has been approved, kick-starting efforts to get the low-cost carrier flying again.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.
Butler said the fees to be paid to Mango’s business rescue practitioner Sipho Sono had been approved by 50.35%, with a simple majority needed. SAA confirmed that the business rescue plan was"approved for implementation", paving the way for Mango to find an equity partner. It said the business rescue practitioner will now proceed to implement the plan, with"the key deliverable being the completion of the process to solicit a preferred bidder to conclude the acquisition of Mango".
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