Aviation Finance South Africa Travel

‘Reasonable prospects’ South Africa’s Comair can be saved – administrators

Administrators in charge of South African aviation company Comair believe there are “reasonable prospects” of saving the company, it said on Tuesday (May 19th), after filing for a form of bankruptcy protection earlier this month.

Comair has assets of ZAR 7.4B (US$407.1M) on its balance sheet compared to ZAR 5.5B of liabilities and is not factually insolvent, the company said in a statement. The administrators will probably publish a business rescue plan on June 9.

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Source: Reuters

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