– South Africa: Comair enters business rescue!

Comair, which operates scheduled services on domestic routes in South Africa as a British Airways franchisee and also operates as a low-cost carrier under its own brand, just announced that it enters business rescue – South Africa’s bankruptcy protection process – to safeguard the interests of the company and its stakeholders after the coronavirus pandemic disrupted the implementation of a turnaround plan. According to CEO of Comair, Wrenelle Stander, the company is facing an unprecedented situation following the nationwide lockdown in South Africa. Shaun Collyer and Richard Ferguson have been appointed as the joint business rescue practitioners with effect from 05 May 2020. Comair was granted approval to suspend the trading of its shares on the Johannesburg Stock Exchange (JSE) with immediate effect.
In terms of the lockdown in South Africa Comair was required to stop flying on 26 March 2020 and has not operated any passenger services since. Customers with existing bookings will be able to rebook flights within 12 months of their departure date. There will be no charge for any changes made before 01 November 2020. We’ll keep you posted!

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