Comaire, South AfricaThe oldest airline is in liquidation after its bankruptcy lawyers reportedly filed a claim. Comair will permanently halt operations after the company failed to secure funding to remain in flight. Comair has reportedly been severely impacted by the global COVID-19 pandemic and travel restrictions.
Comair, which also operates Kulula, launched a rescue operation more than two years ago. The company has entered into a franchise agreement to operate British Airways flights in South Africa.
“We did everything we could to get the funding, but when we couldn’t we didn’t have the opportunity to file the application,” said Richard Ferguson, the company’s business rescue practitioner. company, a category of lawyers hired as administrators to save a company from liquidation. .
“This is an extremely sad day for the company, its employees, its customers and South African aviation.”
Stop of operations for Comair
In a statement, the National Union of Metalworkers of South Africa shared their thoughts: “They feel betrayed because they fought with everything they had to keep the airline in the sky. For more than two years they were not paid in full because they were told it would ensure the survival of the airline. Comair was founded in 1943. It is a viable business with over 40% of the aviation market. It is in danger of collapsing simply because it was mismanaged by Richard Ferguson, the BRP and CEO Glenn Orsmond”
Comair says South Africa’s red-listing during the pandemic has been a major cause of the permanent stranding. In addition, Comair cited high fuel prices and the temporary suspension of its license by Civil Aviation.
With Comair, South Africa’s oldest airline in liquidation, travelers who have tickets via British Airways are protected by the franchisor. Comair will allow company employees and customers with pending reservations or refunds to become creditors of the airline.