Comair eyes December flights if business rescue plan accepted

📆 03/09/2020 07:13:00
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The plan was published on Wednesday and will allow creditors and shareholders two weeks to consider and adopt the plan.

JOHANNESBURG - Comair said that it was hoping to be operational again in December if its business rescue plan was accepted.

The plan is suggesting a fresh equity injection of R500 million in return for a 99% shareholder, of which around 15% of the shareholding would be allocated to BBBEE partners. Around 400 employees will be without a job following the conclusion of a retrenchment and early retirement process.Download the EWN app to your iOS or Android device.

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