Kulula and British Airways close doors for good

, the business rescue practitioners said Comair could not raise the necessary funding to continue with operations. The deadline they had set for the owners, the Comair Rescue Consortium, to raise the necessary funding and come up with a practical plan for continued operations was 31 May.

The funding needed was “to settle all financial obligations as they fall due in the ordinary course of business” and to negotiate with lenders about arrears.Comair entered into“to safeguard the company and its stakeholders”. At the time, the company said the business rescue proceedings were to ensure a focused restructuring of the company as quickly as possible so that it could take to the skies again as a sustainable business.

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