JUST IN | Comair placed in provisional liquidation by high court | Fin24

All affected parties have until 26 July to provide the court with reasons why the provisional liquidation order should not be made a final order.Comair was placed in provisional liquidation on Tuesday due to not being able to meet its financial obligations anymore.

Kulula.com and local British Airways operator Comair was placed in provisional liquidation by the South Gauteng High Court in Johannesburg on Tuesday. Comair cannot pay aircraft storage, maintenance and insurance costs, so it cannot ensure the preservation of its fleet anymore. That is one of the reasons why its business rescue practitioners made an urgent high court application for its liquidation.

"The company does not have access to any further funding necessary to fund its operational costs and cannot meet any of its obligations towards its funding creditors and trade creditors." Comair resumed flying on 1 December 2020. In April 2021 it was delisted from the JSE. The delisting allowed the company to apply for funding of R100 million under the Covid-19 loan guarantee scheme put in place by the SA Reserve Bank and large commercial banks at the time.

How about SAA paying their debt to Comair

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

How to get a kulula.com or BA refund from ComairThe liquidation order has not yet been granted, but many financial services providers are already actioning refunds. Moneyweb Comair Kulula These guys are a frigging disgrace!! They screwed us every time we tried to fly!! Manipulated their seating and pricing so they deserve to ne liquidated!! They blocked seats and gave preferential treatment to some clients!!
Source: Moneyweb - 🏆 5. / 77 Read more »

BUSISIWE MAVUSO: Comair downed by competition, but no such pressure on TransnetThe gap left by Comair will be filled by competitor operators, which is something our freight transport system needs
Source: BDliveSA - 🏆 12. / 63 Read more »

Domestic travel could cost up to four times more after Comair groundingWith Comair’s Kulula and British Airways aircrafts out of the skies, domestic air travellers should be prepared to pay up to three to four times more for their flight tickets. How does this equate to 3 or 4 times more for tickets...300 to 400 percent increase because around 30 to 40 % of of flights are gone Who indicated that prices would increase by this amount? Fly_Airlink FlySafair Plural of aircraft is…aircraft. Good grief, Moneyweb. As a mother of two kids I have battled alot with my financial state to the point of begging from friends just to survive,until I started Bitcoin trading with the help of Allison_Grillo I made a successful withdrawal of R 200,000 with the help of Allison_Grillo.
Source: Moneyweb - 🏆 5. / 77 Read more »

DA blames Comair liquidation on Govt's handling of SA bordersDA blames Comair liquidation on Govt's handling of SA borders The DA has placed partial blame of Comair’s liquidation on the way in which Government handled the borders during previous lockdowns.
Source: TheSAnews - 🏆 25. / 59 Read more »

BUSISIWE MAVUSO: Comair downed by competition, but no such pressure on TransnetThe gap left by Comair will be filled by competitor operators, which is something our freight transport system needs
Source: BDliveSA - 🏆 12. / 63 Read more »

Comair: Not yet cleared for take-offComair is working to strike deals and to regain customers’ confidence. What a disappointment Kulula. I don’t see myself flying with them again
Source: FinancialMail - 🏆 20. / 63 Read more »