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SAA BUSINESS RESCUE IS AT THE END

It is understood that South African Airways has been returned to executives and the board.

The business bailout on South African Airways (SAA) has come to an end.

It is understood that the airline was returned to the executives and the board.

Business rescuers filed a substantial implementation notice with the Enterprise and Intellectual Property Commission, ending the process that started 17 months ago.

The bailout plan was voted and approved by creditors in July last year, with R $ 10.3 billion in funds required for its implementation.

So far, R $ 7.8 billion has been received from the government.

With professionals leaving a solvent and liquid SAA, their subsidiaries, including the airline Mango, will be fully operational.

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Penniless, Mango was forced to stop its flights on Wednesday, leaving many passengers stranded at various airports due to financial uncertainty.

Communications chief Benediction Zubane said the low-cost airline will continue to carry passengers normally from Saturday, after fears that it may stop operations from May 1.

“We are excited to report that, despite many speculations and uncertainties over the past week, Mango Airlines continues to operate normally tomorrow and the day after. Mango Airlines would like to thank you for your patience and continued support. “

However, Mango said its Zanzibar route would remain suspended until further notice.

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