Comair almost back in the skies - on a good path

Kulula and British Airways (BA) could take flight on domestic routes again by December, if Comair's creditors agree to a business rescue plan that would inject more than R1bn into the airline and allow the return of some of its former executives and directors. It would, however, pay trade creditors just 2.5c in the rand.

An unnamed consortium has offered to put R500m of equity into the airline, which went into business rescue in early May, with lenders injecting a net R600m of new debt. Comair will delist from the JSE.

Source: businesslive.co.za