ROB ROSE: Inside Comair’s final hours
While some suitors came around to kick Comair’s tyres, nobody was willing to put down a formal offer. Which left the airline R125m in the hole
In the end, Comair, an airline with a proud 76-year record, fell R125m short of being able to stay in business. Documents lodged in court this week for its liquidation — it has been in business rescue since May 2020 — tell a tale of an increasingly desperate scrap to raise cash to keep going.
The demise of a company which had carried four out of every 10 local passengers on either British Airways (which it operates under licence) or low-cost airline Kulula, will be keenly felt — not least by the 1,253 staff, 1,960 suppliers and 7,120 shareholders...