in Business & Finance

Comair in "a very difficult financial position"

Posted 4 May 2020 · Add Comment

South Africa's Comair is in "a very difficult financial position" due to coronavirus-related travel restrictions and does not anticipate being able to resume flights until October or November, the carrier has said.

 

 

South Africa's Comair has said it does not expect to be able to resume flights until October or November due to the impact of Covid-19.

 

The airline said it is currently in "a very difficult financial position".

 

At the end of April Comairwrites: "Although the company was experiencing financial headwinds prior to the Covid-19 outbreak, the five-week lockdown has caused the situation to rapidly deteriorate to a point where the company finds itself in a very difficult financial position."

 

Comair has been unable to operate since March 17.

 

Comair suffered an operating loss of R562 million ($31 million) in the second half of 2019, which it attributed mainly to South African Airways' having gone into business rescue, saying the national carrier owed it R790 million.

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