The airline said its turnaround plan will focus on reducing operating costs and growing ancillary revenue.
“It is intended that the fleet be restored to 25 aircraft, including two Boeing Max aircraft,” Comair said.“In terms of the business rescue plan the preferred investment consortium, comprising a number of former Comair board members and executives, will invest fresh equity of R500m in return for a 99% shareholding once the suspensive conditions set out in the business rescue plan have been met. Up to 15% of this will be allocated to a suitable BBBEEE partner within 12 months,” the airline said.
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