CAPE TOWN – Comair has announced the group would enter business rescue to safeguard the interests of the company and its stakeholders after the Covid-19 crisis disrupted the implementation of a turnaround plan.
“While we had started making good progress to fix the financial situation six months ago, the crisis has meant we have not been able to implement it as we intended. The Covid-19 crisis has also severely affected the global airline industry. A number of carriers have gone out of businesses. Others such as Virgin Australia and Air Mauritius have implemented restructuring processes, similar to business rescue.
Comair said it was granted approval to suspend the trading of its shares on the JSE with immediate effect. The business rescue practitioners will provide shareholders and all other stakeholders with further updates throughout the process.
busrep The same soon to be adoptive parents ya SAA, yoh kunzima
busrep OneMileataTime
busrep CR17 Funders can buy them out, we don't care about Comair.
busrep 😢
busrep It seems it's not easy operating these artificial birds.
busrep Hello Brittain
busrep We need to open up the domestic flights. Since we are allowing people to go into other provinces. Comuters need to follow these regulations that's all
busrep Looks like the 'new'SAA will have a smooth entry.
busrep 😥
GUNFRIENDLY_SA busrep dont fear, i’m sure SAA will pickup the pieces. after all, timing is everything
busrep Tough times.