Mango in business rescue.

[southside]

I agree 100% Rich! Unless you catch an Airlink seat at a reasonable price, we are compelled to use Safair out of GRJ these days. I’ve flown on them enough to confirm that the corporate vibe there is not a happy one, kinda like Kulula before they stopped operating. Could be that I keep catching the crew on their 4th sector each time & that the smiles are long spent for the day?

My recollection of Mango flights was that of a far happier vibe. Maybe another 180 seat operator would also prevent the blood money I paid GRJ-JNB-GRJ a couple weeks ago. The present monopoly leaves a sour taste in the mouth & burning sensation in the wallet.

What monopoly? You have 3 airlines to choose from on that route.

[Whirly]

We fly Safair out of George all the time, the other two carriers are way more expensive. The Safair flights are always full, or nearly full. They depart on time and always land ahead of schedule. I have not picked up on any bad vibes as yet.

Whirly.

[southside]

It is worth pointing out that the current 3 operators serving George are private operators.

So while flying Mango in the past was cheaper, be aware that this was an SOE funded by Tax money.

Like it or not, private operators need to make a bottom line North of zero on their balance sheet in order to make a route viable, and still make a profit.

So yes it is expensive, aeroplanes are expensive.

It is what it is in today’s private market.

[snoopy]

31 March 2024
Status Report in terms of section 132(3) of the Companies Act 71 of 2008, as amended,
(“Companies Act”), read with Regulation 125

As advised in the February 2024 status report, the BRP is proceeding with the Investor Process and is engaging with the Investor and South African Airways SOC Limited regarding finalisation and signature of the relevant agreements to effect the sale. The BRP has also started engaging with the Air Services Licencing Council to commence the process of approaching the Council together with the Investor to lift the suspension of Mango’s domestic licences

https://flymango.africa/wp/wp-content/u ... h-2024.pdf

[Volo]

31 March 2024
Status Report in terms of section 132(3) of the Companies Act 71 of 2008, as amended,
(“Companies Act”), read with Regulation 125

As advised in the February 2024 status report, the BRP is proceeding with the Investor Process and is engaging with the Investor and South African Airways SOC Limited regarding finalisation and signature of the relevant agreements to effect the sale. The BRP has also started engaging with the Air Services Licencing Council to commence the process of approaching the Council together with the Investor to lift the suspension of Mango’s domestic licences

https://flymango.africa/wp/wp-content/u ... h-2024.pdf

........................................

What more proof do you want that the government has the capacity to massage the legal system to do what they want .none of this is available to you and me .
That they can even contemplate this absurd proposal says that they are continuing to use state resources to do as they wish with no regard to the rule of law .

[ZX357]

https://mybroadband.co.za/news/motoring ... keoff.html

Birns said he was unfamiliar with Ubuntu and its proposal to do with Mango. However, the current information he does have indicates that the airline was unlikely to return as a major domestic flight provider.

“All I have heard — and it is second-hand, unverified info — is that it will not be operating as a scheduled airline,” Birns said.

Instead, Mango could function as Africa Stay’s aviation component, similar to how TUI or Thomas Cook operate in Europe.

[snoopy]

Last BR notice and circular was in May 2024...nothing for June.

Birns said that no local airline could escape certain hard costs and economic factors, regardless of the number of competitors.

except for Mango's former owner's other airline SAA...I suppose

[snoopy]

30 June 2024 Status Report

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.

SIPHO SONO
Business Rescue Practitioner

https://flymango.africa/wp/wp-content/u ... e-2024.pdf

[Volo]

The BRP process is being abused .
The prospective investor can only be after Mangos licenses, however I cannot see how those licenses could still be valid given the time that they have not been active .

[snoopy]

I see the appointed BRP is now the MD of Opis Advisory (Pty) Limited, who was assigned as the company to run Mango's BR process. And the company lists SOEs like SAA, Public Investment Corporation and DENEL as some of their clients but not Mango SOC Ltd.

If SAA is a client, how is that not a conflict of interest, if Mango SOC Ltd is their client as well, considering SAA and its owner, South Africa's Department of Public Enterprises were those that wanted to shut down Mango from the onset?
https://simpleflying.com/mango-airlines-saa/

No update for August yet.

[snoopy]

Last updated, 13 October 2024

Status report for September 2024.

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

https://flymango.africa/wp/wp-content/u ... r-2024.pdf

[Volo]

The BRP have in terms of the attached report issued their 35 th report of no substance.
Their MANGO creditors should seek an order from the court to Wind the company up as there is clearly no prospect of either selling the airline or returning it to an operational status.
Once again the state is abusing the courts.

[GLF4]

The BRP have in terms of the attached report issued their 35 th report of no substance.
Their MANGO creditors should seek an order from the court to Wind the company up as there is clearly no prospect of either selling the airline or returning it to an operational status.
Once again the state is abusing the courts.

Yip, state is judge, jury and executioner.

[Whirly]

The BRP have in terms of the attached report issued their 35 th report of no substance.
Their MANGO creditors should seek an order from the court to Wind the company up as there is clearly no prospect of either selling the airline or returning it to an operational status.
Once again the state is abusing the courts.

Yip, state is judge, jury and executioner.

Plus the practioner is coining it!

Whirly.

[Airplaneguy9]

Anyone able to find this "reasonable prospect"? Maybe I'm blind, but I don't seem to see it anywhere - perhaps someone else would be so kind as to help?