He said no potential strategic equity partner had been named yet, but the process would open “in the coming days”.Mango is to remain mothballed until there is a partner in place, said Butler.
Mango and SAA did not immediately respond to requests for comment. This article will be updated when they do. The original business rescue plan, published on October 29, intended to save most of the jobs at the airline — but Mango confirmed last month that a greater number of employees will now be affected.
SAA’s request for a revised plan and the fact that the airline would be mothballed was described by the Mango Pilots' Association in November as a blow, as it meant “sacrificing the entire workforce at Mango”. It dashed any hopes of the low-cost carrier being back in the sky by December for the lucrative festive season, as originally envisaged in the proposed business rescue plan.Butler said on Thursday that Mango had revived R320m from the department of public enterprises, which will be used to pay retrenchment packages.
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