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

IATA warns governments on high cost of testing

The International Air Transport Association (IATA) called on governments to take action to address the high cost of COVID-19 tests in many jurisdictions and urged flexibility in permitting the use of cost-effective antigen tests as an

Gulfstream exceeds 500 in-flight connectivity service installations

Gulfstream Aerospace has surpassed 500 installations of the Inmarsat Jet ConneX in-flight connectivity platform on large- cabin aircraft. The Wi-Fi solution is available on new aircraft and can be retrofitted on qualifying existing

Embraer delivered 34 jets in Q2 of 2021

Embraer delivered a total of 34 jets in the second quarter of 2021, of which 14 were commercial aircraft and 20 were executive jets (12 light and eight large).

ICAO SG highlights African aviation's growth potential

Addressing Africa’s aviation leaders last week, most notably through her opening of the 2021 AFI Aviation Week, ICAO Secretary General Dr Fang Liu highlighted the tremendous potential future for aviation in Africa that could be

Single-engine Denali aircraft joins Beechcraft turboprop family

Textron Aviation is realigning its turboprop aircraft lineup as the single-engine Beechcraft Denali (previously branded the Cessna Denali) to join the legendary twin-engine Beechcraft King Air 260 and King Air 360/360ER as part of

Rostec starts developing hydrogen-powered aircraft engines

United Engine Corporation of Rostec has started a programme to develop hydrogen-powered engines for both aviation and ground applications.

WDS SK2601090322
See us at
DAS21_BTAviation Africa 2021 BTOCAviation MENA 2022WDS BT1202090322