ETOPS
10th Jun 2022, 07:34
Apparently they stopped flying Kulula and BA franchise on 31st May 2022 to try to recapitalise but were unsuccessful.
https://www.news24.com/fin24/companies/comair-fails-to-get-money-business-rescue-practitioners-believe-it-cant-be-saved-20220609
Comair's business rescue practitioners have lodged a court application on Thursday to convert the business rescue proceedings into liquidation proceedings.
This is because the company could not raise the necessary funding to continue with operations.
In a notice, published on Thursday, the BRPs advised creditors that they no longer believe there is a reasonable prospect that the company can be rescued.
https://www.news24.com/fin24/companies/comair-fails-to-get-money-business-rescue-practitioners-believe-it-cant-be-saved-20220609
Comair's business rescue practitioners have lodged a court application on Thursday to convert the business rescue proceedings into liquidation proceedings.
This is because the company could not raise the necessary funding to continue with operations.
In a notice, published on Thursday, the BRPs advised creditors that they no longer believe there is a reasonable prospect that the company can be rescued.