With court rulings declaring its business rescue plan invalid, failed appeals, and the withdrawal of its would-be saviour investor, Mango Airlines’ Business Rescue Practitioner (BRP), Sipho Sono, has called for a structured wind-down of the airline.
In a circular to affected parties on August 4, Sono said that instead of continuing costly and time-consuming appeal proceedings, he would publish an amended plan for creditors to consider and vote on. The goal is to maximise their payout before formally closing the airline’s books.
Alternatively, the airline will undergo a liquidation process, as outlined by an independent liquidator.
Sono has committed to publishing the amended wind-down plan on August 19, for creditors to consider and vote on.
“The BRP anticipates being in a position to pay an initial dividend (70% of the projected dividend) to creditors within 30 days of the adoption of the amended plan, with the balance to be paid within three to five months thereafter, following the conclusion of the Unflown Ticket Liability claim verification process. The verification process is currently anticipated to be finalised by the end of September 2025,” said Sono.
The collapse of the investor deal marks a significant setback to any likely prospect of Mango returning to the skies. The investor, Ubuntu Air Services, had planned to relaunch flights under the Mango brand through a partnership with another licensed airline, but pulled out on July 31, citing delays, regulatory hurdles, and funding challenges.
