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.
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Troubled Comair offloads 400 jobs as it adopts business rescue planThe airline said its turnaround plan will focus on reducing operating costs and growing ancillary revenue.
Source: SowetanLIVE - 🏆 13. / 63 Read more »
Creditors adopt business rescue plan as Comair moves one step closer to recoveryThe 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
Source: BDliveSA - 🏆 12. / 63 Read more »
Comair to return to service in December after business rescue plan gets green lightComair will gradually return to service from December, with a seven-month ramp-up period until June 2021, after the vast majority of creditors and shareholders voted to adopt the business rescue plan.
Source: IOL - 🏆 46. / 51 Read more »
Numsa digs in over Comair business rescue meetingThe union says the airline operator is ‘blackmailing’ members into signing a collective agreement ahead of vote
Source: BDliveSA - 🏆 12. / 63 Read more »
Troubled Comair offloads 400 jobs as it adopts business rescue planThe airline said its turnaround plan will focus on reducing operating costs and growing ancillary revenue.
Source: SowetanLIVE - 🏆 13. / 63 Read more »