Mango in business rescue.

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snoopy
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Re: Mango in business rescue.

Unread post by snoopy »

Volo wrote: Sat Mar 11, 2023 6:10 pm If you are looking for Mango spare parts I can help you - seriously.!!
Can I offset what Mango owes me against those Mango spare parts :lol:

I have to wonder whats left for a bidder to buy, other than the name of a shelved company and maybe some memorabilia? If a company is in financial distress and its BR process has been dragged on for years...it can't be worth much at all anymore. And as for assets it probably doesnt have much left...not even a single B737.

Which is where DPE was hoping it would be left...so as not to compete with their SAA regurgitation saga. Leaving Mango's creditors sitting on the deck chairs of the Titanic, just like Parliament.
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Re: Mango in business rescue.

Unread post by Volo »

snoopy » Tue Mar 14, 2023 7:25 am

Volo wrote: ↑Sat Mar 11, 2023 6:10 pm
If you are looking for Mango spare parts I can help you - seriously.!!
Can I offset what Mango owes me against those Mango spare parts :lol:

Hard cash (dollars)only for my sofa bank :lol:
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Re: Mango in business rescue.

Unread post by snoopy »

:lol:
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Re: Mango in business rescue.

Unread post by Jetblast »

ZX357 wrote: Mon Mar 13, 2023 2:26 pm
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
2E5DF84D-20B7-4C3A-9D3B-B38A0752B279.jpeg
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Re: Mango in business rescue.

Unread post by Ned Yakman »

Checked with my missus as she who wrote the ch-aviation article. She says all the info is in the Court filings - which are public documents - and they’re available on the website of Mango’s BRP. Surprisingly no other local journos or politicians following the saga have bothered to read them.
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Re: Mango in business rescue.

Unread post by Volo »

What are they thinking ? - I wonder how much money they think they need to start an airline because it would mean starting from scratch as Mango has already disposed of its aircraft and what would they have bought for their R326 million - a name with no licenses or routes and a poor reputation and debt and obligations to creditors.
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Re: Mango in business rescue.

Unread post by southside »

If they start up again, perhaps snoopy will get his money back.

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Re: Mango in business rescue.

Unread post by snoopy »

Mango BR process update June 2023.

Last status report dd 19 May 2023.

https://flymango.africa/wp/wp-content/u ... y-2023.pdf
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Re: Mango in business rescue.

Unread post by Volo »

I see that the BRP conclude that Mango could still.be rescued and this they conclude without producing a shread of evidence to support this.
They were supposed to wrap this up within 3 months of their appointment in 2021.
They are fooling no one .!!!
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Re: Mango in business rescue.

Unread post by Fransw »

Maybe not a very good question and not directly related to this: But why don't they start all new SOE's on a "Business rescue'' program?? :D The chances of success may be higher. Spend a little now but save a lot later...
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Re: Mango in business rescue.

Unread post by Airplaneguy9 »

The BRP remains of the opinion that there is a reasonable prospect of rescuing the Company, or
that the BR Proceedings would result in a better outcome for creditors and the shareholder of the
Company than would otherwise be achieved should the Company be placed in liquidation.
If you say so. Maybe when 1time starts flying again.
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Re: Mango in business rescue.

Unread post by Volo »

Airplaneguy9 wrote: Tue Jun 27, 2023 9:25 am
The BRP remains of the opinion that there is a reasonable prospect of rescuing the Company, or
that the BR Proceedings would result in a better outcome for creditors and the shareholder of the
Company than would otherwise be achieved should the Company be placed in liquidation.
If you say so. Maybe when 1time starts flying again.
.....................................

In the mean time some of their Aircraft spare parts are already in Dubai. !!
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Re: Mango in business rescue.

Unread post by ZX357 »

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Re: Mango in business rescue.

Unread post by Airplaneguy9 »

Popcorn, anyone?
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Re: Mango in business rescue.

Unread post by snoopy »

HIGH COURT OF SOUTH AFRICA GAUTENG DIVISION, PRETORIA 6/9/2023 Court Judgement
Mango vs Minister of Public Enterprises Judgement
Case No: 010700/2023

https://flymango.africa/wp/wp-content/u ... prises.pdf
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