Comair eyes December flights if business rescue plan accepted

The plan was published on Wednesday and will allow creditors and shareholders two weeks to consider and adopt the plan.

Kulula.com aircraft. Image: Kulula travel

JOHANNESBURG - Comair said that it was hoping to be operational again in December if its business rescue plan was accepted.

The plan was published on Wednesday and will allow creditors and shareholders two weeks to consider and adopt the plan.

The plan is suggesting a fresh equity injection of R500 million in return for a 99% shareholder, of which around 15% of the shareholding would be allocated to BBBEE partners.

Around 400 employees will be without a job following the conclusion of a retrenchment and early retirement process.

Comair said that its business rescue plan has received five offers from potential investors.

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