The merger, which the tribunal approved during on online hearing, will see Bidco acquire Comair and in particular its B-BBEE shareholding.
Under the terms of the merger, Bidco will not be permitted to retrench any employees for three years from the day operations begin. The statement mentioned that a number of additional B-BBEE purchasers “who are agreeable to participating in this initiative on mutually acceptable terms”. The deal was approved by Comair’s business rescue practitioners as part of its rescue plan.
With its cheeky on-board safety announcements and pay-as-you-go in-flight meals, it quickly earned a loyal after among SA travellers.
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