Mango, a state-owned airline, last recorded a profit in 2018 despite several efforts by the board and management to turn its fortunes around. The low-cost airline plunged into a loss of R497-million in 2020, a disruptive year for the wider aviation industry.
The true financial situation of Mango Airlines has been opaque for many years because the audited financial statements of the state-owned airline were never released for public consumption.
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