SAA ‘remains committed’ to equity partner for Mango
South African Airways (SAA) says it remains committed to finding an equity partner for Mango Airlines, a subsidiary of the national carrier.
This follows claims that Mango Airlines may not resume operations in December amid continued financial woes.
The airline was grounded earlier this year and placed under voluntary business rescue in August, a move fiercely opposed by labour unions.
While SAA has been clear there is no working capital to fund Mango's operations, SAA board hit back at claims that the airline's slow turnaround was deliberate.
Mango is yet to receive the R819 million cash injection promised by government.
SAA says the money cannot be used to get aircraft back in the skies but to fund Mango's business rescue process.
Interim Chairperson, John Lamola believes an equity partner for the low-cost carrier would be a sustainable solution.
"There is no misalignment between SAA Board and the BRP, rather it is a matter of when operations should resume.
"We acknowledge that this is a difficult and frustrating time for all stakeholders of Mango and all we can ask is that the process being followed be allowed to complete its course in expectation of an equitable solution," said Lamola.
Creditors are set to vote on the business rescue plan in 5 days.
Meanwhile, Takatso Consortium is yet to finalise a deal that will secure their seat as the new majority shareholder of SAA.
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