Numsa ‘not shocked’ by Comair BRPs postponing release of rescue plan

Numsa, which is a majority union at the struggling company, said it was planning on taking the company to court after it wasn’t consulted ahead of the publication in line with the Companies Act.

FILE: British Airways Comair plane was involved in an incident at Johannesburg's OR Tambo International Airport. Picture: EWN.

JOHANNESBURG - The National Union of Metalworkers of South Africa (Numsa) said it was not shocked by Comair’s business rescue practitioners’ (BRPs) decision to postpone the publication of their business rescue plan to 30 June.

Numsa, which is a majority union at the struggling company, said it was planning on taking the company to court after it wasn’t consulted ahead of the publication in line with the Companies Act.

Comair issued a Stock Exchange News Service update on Wednesday morning advising its shareholders that the majority of its creditors support the extension of the date of publication to the end of the month, following consultations.

Numsa now said it was side-lined during the consultations when the business rescue plan was developed and had Comair gone ahead with the decision to publish on Tuesday, this would have resulted in court action.

Numsa spokesperson Phakamile Hlubi-Majola said: “We would not be surprised if the decision to postpone was also motivated by communication from our attorneys putting them in terms with the manner in which they have decided to continue with the BRP terms.”

The airline entered business rescue in May after it recorded R564 million in losses in the first half of the year, with an unpaid South African Airways bill of R790 million.

The plan, which will be produced by the practitioners, will restructure the company’s affairs including its business, property, debt and liabilities among others.

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