News Formal

If latest business rescue plan is approved, Comair hopes to start flying in December

  • 📰 SowetanLIVE
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 63%

Nigeria News News

The future of Comair should be known by September 18 when creditors and shareholders are to make their decision on whether to adopt the business rescue plan tabled on Wednesday.

In a statement, business rescue practitioners at Comair — which operates kulula.com and British Airways in SA — said depending on this decision, its flights could be operational in December.

“The first R100m will be paid in two equal tranches in September and October as secured post-commencement finance. Additional funding from lenders of R1.4bn is required to successfully implement the adopted plan. This will comprise R600m in net new debt.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Comair eyes December flights if business rescue plan acceptedThe plan was published on Wednesday and will allow creditors and shareholders two weeks to consider and adopt the plan.
Source: ewnupdates - 🏆 30. / 53 Read more »

Comair eyes December flights if business rescue plan acceptedThe plan was published on Wednesday and will allow creditors and shareholders two weeks to consider and adopt the plan.
Source: ewnupdates - 🏆 30. / 53 Read more »