Unions push to put Mango in business rescue

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The aim of business rescue is to save a company and balance the rights of all relevant stakeholders.
The aim of business rescue is to save a company and balance the rights of all relevant stakeholders.

An application to have low-cost airline Mango placed in business rescue might be brought by three unions as early as this week, according to leaked documents seen by Fin24.

Mango, which employs about 750 people, was not previously placed in business rescue – unlike its parent, state-owned South African Airways.

The unions have decided to try to get Mango into business rescue before a liquidation application by a creditor of the airline - an aircraft lessor - is being heard in August. The liquidation application has already been postponed once after Mango liaised with the creditor, and the Department of Public Enterprises, which is SAA's shareholder, has not given the unions any indication yet that the liquidation application will be opposed.

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