Financially embattled Comair announced it would be liquidating its assets after failing to raise sufficient funding to continue as a viable business.
Following two years in business rescue, a court application has been lodged by business rescue practitioners (BRPs) to liquidate Comair, the business responsible for the operation of local British Airways flights and kulula.com.
After facing a series of difficult circumstances that started with the Covid-19 pandemic, Comair flights were suspended on 31 May 2022 when funding could not be secured to continue the company’s operation.
“It is an extremely sad day for the company, its employees, its customers and South African aviation,” commented BRP Richard Ferguson in an official statement by the company, noting that BRPs did their utmost to secure the funding, but when they were unable to do so, they had no option but to lodge the court application.
Stats quoted from South African Tourism point to 40% of the country’s domestic seating capacity being lost. Meanwhile, local travel routes are reportedly experiencing challenges as they struggle to manage the demand backlog following the suspension of Comair flights.
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