Low cost carrier, Mango, has called for expressions of interest from potential qualifying bidders to buy and safeguard the future of the business by no later than 17h00 on December 20, 2021. Late applications will be disregarded, the airline has warned
This is after a new, revised Business Rescue (BR) plan for Mango Airlines was approved by creditors last Thursday (December 2).
In the meantime, Mango is on the shelf, and ‘mothballed’.
Details about the investor process, a bid process letter and confidentiality agreement, which interested parties must sign, are available on the flymango.com website under the Business Rescue (BR) tab.
A decision to sell Mango, rather than revive the business, was made when BR practitioners confirmed in the original BR plan that SAA had no desire, or available funding, to see Mango flying again until an investor was found.
SAA said Mango should be “mothballed” until an equity partner could be identified.
BR practitioners updated their BR plan…
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