Mango in business rescue.

Discussions pertaining to Airline operations,safety and training for Flight Deck Crew. Open to anyone who would like to learn all aspects of the Airline industry from a pilots perspective.

Moderator: Moderators

User avatar
Ray W
10000 and still climbing
10000 and still climbing
Posts: 19752
Joined: Wed Jan 04, 2006 4:17 pm
Closest Airfield: OR Tambo
Location: Atlasville.
Has thanked: 3377 times
Been thanked: 1098 times

Re: Mango in business rescue.

Unread post by Ray W »

ZS-SJE is bring stripped of spares prior to being scrapped.
Old age & treachery will triumph over youth & skill
User avatar
Airplaneguy9
Power on stall
Posts: 348
Joined: Sat Oct 05, 2019 11:08 pm
Closest Airfield: Cape Town Airport
Location: Cape Town
Has thanked: 117 times
Been thanked: 139 times

Re: Mango in business rescue.

Unread post by Airplaneguy9 »

Rest in peace, old bird.
These users thanked the author Airplaneguy9 for the post:
Ray W
Clear prop!
Bearcat
Stratospheric Poster (> 40 000 posts)
Stratospheric Poster (> 40 000 posts)
Posts: 41103
Joined: Mon May 09, 2005 11:51 pm
Closest Airfield: Grand Central
Location: JHB
Has thanked: 960 times
Been thanked: 4598 times

Re: Mango in business rescue.

Unread post by Bearcat »

Volo
Tree Tousand
Tree Tousand
Posts: 3114
Joined: Tue Apr 21, 2009 12:39 pm
Closest Airfield: FAOR
Location: Kempton Park
Has thanked: 836 times
Been thanked: 1273 times

Re: Mango in business rescue.

Unread post by Volo »

Just letting everyone down slowly so they get used to the inevitable Closure of the Airline .

This is a tactic that has worked well for them in the past -just keep delaying and when the inevitable happens it doesnt come as shock to anyone anymore .

It also keeps the pressure off SAA while everything is pending - I think ? but who knows anymore .

If both SAA and Mango had been treated as normal trading companies the CIPC would have de-registered them a long time ago , however they ( the CIPC) must be getting instructions from else ware to back-off for the present - a luxury no other company would get .
These users thanked the author Volo for the post:
Segg
User avatar
Burner
Fife Thousand feet
Fife Thousand feet
Posts: 5228
Joined: Mon Jan 30, 2006 2:21 pm
Closest Airfield: LIMB
Location: Northern Italy
Has thanked: 82 times
Been thanked: 677 times

Re: Mango in business rescue.

Unread post by Burner »

https://simpleflying.com/mango-airlines ... abandoned/
The sale of South Africa's budget carrier Mango Airlines may have to be abandoned after Pravin Gordhan, the Minister of Public Enterprises, withheld his approval within the 30-day time frame. This was due to queries from Mango's parent company, South African Airways.

Sudden turn of events
After ceasing operations, Mango Airlines appointed Sipho Sono, a senior business rescue practitioner (BRP), as the provisional liquidator in order to find investors. The parent company, South African Airways, is seeking approval for the disposal of its shares in Mango.

Following the submission of this application, the airline released a statement that read;

"The BRP regrets to inform affected parties that despite the positive update provided in the previous report, the Minister is yet to make a decision on the Application."

It seems that the Public Enterprises minister withheld his approval because he was not content with certain queries raised by South African Airways. Simple Flying has reached out to South African Airways to find out more about these queries, and we will update the article with any response.

The national carrier initially submitted an application to sell Mango on September 30. The BRP handed in another application on November 28 to the Department of Public Enterprises, who had 30 days to make a decision. However, the Minister is still yet to give his verdict.

This delay means Mango Airlines and investors may have to part ways, which would result in the wind-down of the once loved airline. In an effort to avoid this, Sono added that they are currently assessing whether the concerns raised can be resolved and will give feedback in respect of all parties involved.

Mango Airlines has been seeking new ownership for a while
South Africa's budget carrier has been seeking new ownership for the past 18 months since ceasing operations. There was a deal agreed upon for Mango to be bought by August 2022, but on the 7th of that month, the airline's flying license was suspended for two years.

he licenses that allowed Mango to fly had been suspended by the Air Services Licensing Council (ASLC) because the airline had been out of operation for over a year. Without these licenses, parties that were willing to invest in the state-owned carrier may have walked away.

Mango has not flown since July 2021, just before entering a business rescue plan similar to that of Comair. In one of their last statements, the budget carrier’s acting CEO, William Ndlovu apologized to customers saying,

This marked the last day that the vibrant airline graced the South African airspace.

The airline is on the verge of collapse, chiefly because of its license suspensions, and debts and liabilities outweighing the value of its assets. If Mango cannot secure new investors, it may fall into liquidation, with its few assets being sold to pay creditors.

National Treasury may be Mango's lifeline
Sono and Mango had hoped that the Minister of Public Enterprises would approve the sale of the airline before the deadline. The minister's delay means that the future of the domestic airline hangs on a knife edge.

We understand that South African Airways was supposed to receive a letter from the National treasury stating that the airline would have to submit its sale application directly to them. As per the Public Finance Management Act, the application can be deemed as approved if not responded to in 30 days by the responsible authorities, although South African Airways and DPE have agreed to extend this deadline by another month.

Sono believes that there is reasonable cause to rescue the company and that the business rescue process would be better for creditors and other parties than what would result if the company was to be placed in liquidation. Numerous players in the sector wish to see the domestic carrier back in operation as it would help solve the current challenges in aviation, including seat and airline pilot shortages.
User avatar
Ugly Duckling
10000 and still climbing
10000 and still climbing
Posts: 10292
Joined: Sat Mar 18, 2006 2:24 pm
Closest Airfield: Brakpan Benoni FABB
Location: Boksburg
Has thanked: 1773 times
Been thanked: 1997 times

Re: Mango in business rescue.

Unread post by Ugly Duckling »

And all the while the value of the aircraft diminishes as calendar items come due for inspection, repair and replacement.
Paul Sabatier
Long time Cygnet builder
The object is to fly, it does not matter what the object is!
User avatar
Airplaneguy9
Power on stall
Posts: 348
Joined: Sat Oct 05, 2019 11:08 pm
Closest Airfield: Cape Town Airport
Location: Cape Town
Has thanked: 117 times
Been thanked: 139 times

Re: Mango in business rescue.

Unread post by Airplaneguy9 »

If I wasn't convinced before, I am now. Mango will never take to the skies ever again.

Another one gone from the SA skies.
Clear prop!
User avatar
Ray W
10000 and still climbing
10000 and still climbing
Posts: 19752
Joined: Wed Jan 04, 2006 4:17 pm
Closest Airfield: OR Tambo
Location: Atlasville.
Has thanked: 3377 times
Been thanked: 1098 times

Re: Mango in business rescue.

Unread post by Ray W »

Ugly Duckling wrote: Sun Jan 22, 2023 1:41 pm And all the while the value of the aircraft diminishes as calendar items come due for inspection, repair and replacement.
Mango doesn't have any aircraft left.
These users thanked the author Ray W for the post:
snoopy
Old age & treachery will triumph over youth & skill
User avatar
snoopy
Fower Tousand
Fower Tousand
Posts: 4151
Joined: Sun Aug 12, 2018 4:02 pm
Closest Airfield: FASH
Has thanked: 401 times
Been thanked: 768 times

Re: Mango in business rescue.

Unread post by snoopy »

I guess the BRP has made enough money now.

It was a very creative way to steal R100s of millions from paying pax. And the DPE must be happy to hear the words "abandon BR" (after Pravin Gordhan, the Minister of Public Enterprises, withheld his approval within the 30-day time frame)....its what the DPE hoped for all along. No competition.
These users thanked the author snoopy for the post (total 2):
Ray WMouser
Vivere come se mai dovessimo morire
African Flyer
1k poster
1k poster
Posts: 1737
Joined: Wed Apr 19, 2017 12:55 pm
Closest Airfield: FAGC
Has thanked: 195 times
Been thanked: 81 times

Re: Mango in business rescue.

Unread post by African Flyer »

Positive rate! :D
Volo
Tree Tousand
Tree Tousand
Posts: 3114
Joined: Tue Apr 21, 2009 12:39 pm
Closest Airfield: FAOR
Location: Kempton Park
Has thanked: 836 times
Been thanked: 1273 times

Re: Mango in business rescue.

Unread post by Volo »

If you are looking for Mango spare parts I can help you - seriously.!!
User avatar
ZX357
Lining Up
Posts: 103
Joined: Mon May 20, 2019 10:46 am
Closest Airfield: OR Tambo
Location: Johannesburg
Has thanked: 3 times
Been thanked: 11 times

Re: Mango in business rescue.

Unread post by ZX357 »

User avatar
Johan Swakopmund
1k poster
1k poster
Posts: 1102
Joined: Fri Oct 26, 2012 11:59 am
Closest Airfield: Swakopmund
Location: Namibia
Has thanked: 492 times
Been thanked: 355 times

Re: Mango in business rescue.

Unread post by Johan Swakopmund »

Volo wrote: Sat Mar 11, 2023 6:10 pm If you are looking for Mango spare parts I can help you - seriously.!!
Mathew
I will take two boxes of mangos, what ever you have spare at a reasonable price.
Fruit are very scarce and expensive in Namibia

Johan
These users thanked the author Johan Swakopmund for the post:
Airplaneguy9
NAMIBIA FLYING COUNTRY
User avatar
Jetblast
Returning to aircraft
Posts: 446
Joined: Mon Mar 27, 2006 10:39 am
Location: Pretoria
Has thanked: 2 times
Been thanked: 9 times

Re: Mango in business rescue.

Unread post by Jetblast »


Any chance you have access to the article. Only available to pro subscribers
I take life with a grain of salt, a wedge of lime and a shot of Tequila!
User avatar
ZX357
Lining Up
Posts: 103
Joined: Mon May 20, 2019 10:46 am
Closest Airfield: OR Tambo
Location: Johannesburg
Has thanked: 3 times
Been thanked: 11 times

Re: Mango in business rescue.

Unread post by ZX357 »

Jetblast wrote: Mon Mar 13, 2023 11:44 am

Any chance you have access to the article. Only available to pro subscribers
Was hoping someone on this forum had access

Return to “Airline Chatter”