Fledgling airlines are clipping Mango’s wings
NEW entrants to the domestic market such as Fly Blue Crane and FlySafair are putting pressure on South African Airways subsidiary Mango, which recently posted its second loss in its 10-year history.Mango is also in the hunt for a new CEO following Nico Bezuidenhout’s departure earlier in 2016.Bezuidenhout was head-hunted by Fast Jet.SAA’s integrated annual report shows Mango made a net loss in 2015-16 despite a 21% increase in passenger numbers.More details have not been made available.A R100m facility remains open "for Mango to utilise at its own discretion as and when it needs cash funding. SAA does not expect Mango to utilise the facility within the next 12 months," SAA said in the report.Mango spokesman Hein Kaiser said Mango was "in a closed period vis-à-vis its results".It would issue a statement "in due course" following their annual meeting, scheduled to take place "in the next couple of weeks"."Mango will soon commence the search for the new CEO," Kaiser added."Advertisemen...
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