Comair has listed assets worth at least R3.5bn as its business rescue practitioners lodge a court application to wind down the company that was once hailed as the gold standard of SA aviation after failing to secure half-a-billion rand to stay afloat.

In court papers filed as part of the liquidation application, which is scheduled to be heard on Tuesday, Richard Ferguson, one of Comair’s business rescue practitioners, said there is an urgent need to put its assets, mainly its aircraft fleet, under a court-appointed liquidator to preserve their value for creditors as Comair is unable to meet any of its debt obligations...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.