Comair wings clipped as BRPs launch liquidation application
Comair's business rescue practitioners have lodged a court application to convert the business rescue proceedings into liquidation proceedings.
The company, which operates Kulula.com and local British Airways flights, grounded its planes on 1 June due to a lack of funding.
It has been under business rescue since 2020 due to its inability to repay debts.
Last week, the company’s business rescue practitioners said it is in the process of raising the necessary capital to resume flights.
But on Thursday, the BRPs said they no longer believe there is a reasonable prospect that the company can be rescued.
"We did our utmost to secure the funding,” said the BRP’s Richard Ferguson.
“But when we were unable to do so had no option to lodge the application. It is an extremely sad day for the company, its employees, its customers and South African aviation."
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