Creditors Approve New business Rescue Plan for South Africa's Mango Airline

South African Airways (SAA) said an amended business rescue (BR) plan for its low-cost subsidiary Mango was approved at a meeting of creditors on Thursday, paving the way for the airline to seek an equity partner, Reuters reported. "According to the BR practitioners the process to secure a successful bidder, inclusive of concluding the relevant acquisition agreements, is anticipated to be completed by the end of March 2022," SAA said in a statement. Business rescue is a form of bankruptcy protection in South Africa. Read more.