South Africa's Comair suspends flights pending receipt of funding
South African airline Comair announced it is obliged to suspend all British Airways (operated by Comair) and kulula.com flights, pending successfully securing additional funding. The company’s business rescue practitioners (BRPs) have advised that the process to raise the necessary capital is in progress and that there is reason to believe such funding may be secured.
''We deeply regret the inconvenience this suspension will cause our customers. We did everything we could to avoid it. Comair, the BRPs and the lenders are working all out to get the funding in place so that we can resume our normal flight schedule as soon as possible,'' said Comair CEO, Glenn Orsmond. ''Comair is inherently a viable business. We have the two of the best airline brands in the country. We are on track to carry over 4 million passengers this year and generate R5.3 billion in revenue. We have excellent staff, a modern fleet, good sales and distribution channels and low operating costs, which is why we believe the funding will be secured.''
Once received, the airline will be able to recommence operations, but regrettably under these circumstances, the practitioners have no choice but to voluntarily suspend all scheduled flights until the funding is confirmed. British Airways and kulula.com ticket sales have also been suspended with immediate effect.
