News Formal

Comair eyes December flights if business rescue plan accepted

  • 📰 ewnupdates
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 53%

United States News News

United States United States Latest News,United States United States Headlines

The plan was published on Wednesday and will allow creditors and shareholders two weeks to consider and adopt the plan.

JOHANNESBURG - Comair said that it was hoping to be operational again in December if its business rescue plan was accepted.

The plan is suggesting a fresh equity injection of R500 million in return for a 99% shareholder, of which around 15% of the shareholding would be allocated to BBBEE partners. Around 400 employees will be without a job following the conclusion of a retrenchment and early retirement process.Download the EWN app to your iOS or Android device.

 

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:

 /  🏆 30. in US

United States United States Latest News, United States United States Headlines

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

WATCH | Business Day: Why every story is your businessBusiness rescue could save SAA. But will it be allowed to do its job? There are true sides to every story. We make all of them your business. EveryStoryIsYourBusiness
Source: BDliveSA - 🏆 12. / 63 Read more »