in Business & Finance

Comair secures short-term financing

Posted 11 August 2020 · Add Comment

South Africa’s Comair, which operates a British Airways franchise and the Kulula Air has raised short-term financing to help the firm through the coming weeks.


Comair secures short-term financing with two offers on the table.  Image: Comair

According to internal communications seen by South Africa's Travel News, Comair chief executive Wrenelle Stander told staff that the USD2.27 million short-term bridge loan would allow Comair to meet its operational overheads and allow its business rescue process to continue,  reports ch-aviation.


BRPs Shaun Collyer and Richard Ferguson are due to conclude their reviews of two offers which were submitted on July 22 and July 23.


"The Practitioners are in the process of considering these latter two offers in order to understand if the parties will be able to fulfill the conditions contemplated in these offers, and if any one of these latter two offers provides a sustainable remedy to the Company's financial distress," the BRPs said in a stock market filing dated July 28.

Other Stories
Latest News

Aviation industry agrees vital slot use relief

The Worldwide Airport Slot Board (WASB), comprising Airports Council International (ACI World), the International Air Transport Association (IATA), and the Worldwide Airport Coordinators Group (WWACG) released a joint

Astral Aviation helps with delivery of Covid-19 vaccines

Astral Aviation, a member of The International Air Cargo Association (TIACA) and Pharma.Aero, has announced that it is ready to support the distribution of the recently discovered COVID-19 vaccines across its scheduled network of 15

Unions come out fighting over Nigeria airport privatisation plans

A row has broken over Nigeria’s plans to hand over major international airport terminals to private operators.

Airlink to connect Dar es Salaam and Johannesburg

Airlink will reconnect Tanzania with South Africa when it launches its first scheduled passenger flights between Dar es Salaam and Johannesburg on 01 December 2020.

Emirates re-opens lounge in Cairo

Emirates is re-opening its lounges around the world beginning with the Emirates lounge in Cairo International Airport.

Ethiopian Cargo launches trans-pacific cargo flight services

Ethiopian Cargo & Logistics Services has launched Trans-Pacific routes, extending from Incheon to Atlanta via Anchorage effective 09 Nov 2020.

CONNECT SK0110090421
See us at
Aviation Africa 2021Aviation MENA 2021CONNECT BT0610090421