Mango gets extension to appoint business rescue practitioner

In virtual court proceedings in the high court in Johannesburg, CIPC representative Lucinda Steenkamp told the court the commission would grant the extension pending the outcome of a court application by unions to place the embattled budget airline in business rescue.Mango has found itself the subject of two opposing proposed business rescue processes, one led by the carrier’s unions and the other by its board and parent company SAA.

They said SAA, Mango and the department want low-cost carrier Lift, which is owned by Global Airways, to become the dominant low-cost carrier. And this, they say, would be at Mango’s expense.

SA_Taxis, it's time we pause & give credit to Taxi Owners who against all odds, financial difficulties they remained in the game. No retrenchment, no business rescue nothing. Managing violence might be imperative but big up to Taxi Owners

They gonna sell it for 200 million

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Don't let unions place us in business rescue - we'll do it ourselves, Mango to ask court | Fin24Mango intends to ask the High Court not to grant an urgent application by three unions to have the low-cost airline placed in business rescue, but to rather allow it to voluntarily do so. | Cartjoff Fin24
Source: News24 - 🏆 4. / 80 Read more »

Trade unions seek clarity on Mango's future after filing for business rescueThe low-cost South African Airways subsidiary was forced to indefinitely suspend its flights last week due to outstanding payments owed to air traffic navigation services.
Source: ewnupdates - 🏆 30. / 53 Read more »