is set to be liquidated because its business rescue practitioners believe that the aviation company has no reasonable prospects of being rescued.
The Comair business rescue practitioners, Richard Ferguson and Neil Hablutzel, have failed to secure funding from existing investors and commercial banks to fund the company’s rescue process and flight operations. Comair’s business rescue seemed to have been heading on the path of success after a group of investors — including former Comair directors, one of whom is Martin Moritz, and an investment vehicle, Luthier Capital — injected R500-million into the company to take over its ownership and fund its business rescue process. Additional funding of R1.4-billion has also been secured from commercial banks.
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Comair fails to get money, business rescue practitioners believe it can't be saved | Fin24JUST IN | Comair could not raise the necessary funding to continue with operations, its business rescue practitioners announced on Thursday. | Fin24 Fin24 I'm desperate for any employment. I'm willing to be a slave boy or a servant too. Just for my kids🙏. My children are suffering because I struggle to put food on the table for them😭. Last night they slept hungry and that broke me as a father💔. Fin24 The R51 gang must buy this one as well Fin24 You mean they couldn't raise the necessary funding to appease the overlords in the country, looking after their own SAA interests?
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