Comair confirms new ownership under Comair Rescue Consortium

Comair (South Africa) confirmed (01-Dec-2020) the "vast majority" of its shareholders voted to approve the shareholding restructuring proposed in the company's business rescue plan.

The approval resulted in the Comair Rescue Consortium injecting fresh equity of ZAR500 million (USD32.8 million) in return for a 99% shareholding. Up to 15% of this shareholding will be allocated to a suitable Broad-based Black Economic Empowerment partner within 12 months.

Source: Centre for Aviation