Comair’s ticket holders have same rights as other creditors
Those holding tickets for flights by the airline, which is going into business rescue, will receive proposals on a way forward
The business rescue practitioners for embattled airline Comair will be communicating with ticket holders about proposals for a way forward, after the company was grounded.
Ticket holders have the same rights as other creditors, and the business rescue practitioners “will, in due course, also be addressing separate correspondence to such persons with proposals on the way forward”, a statement on the airline's website reads.
Comair, which operates British Airways flights and Kulula in SA , entered business rescue on Tuesday — a form of bankruptcy protection that allows a financially distressed company to delay creditors’ claims against it or its assets.
The company has appointed Shaun Collyer and Richard Ferguson as joint business rescue practitioners, who will oversee the restructuring of the company to work out if it can survive or if assets should be auctioned off to pay off creditors.