- Comair, the parent of Kulula.com and operator of British Airways in South Africa, likely won't be flying again until at least 1 November, its business rescuers says.
- When it does, its fleet of planes will probably be half the current size.
- The company needs a "substantial" cash injection, the rescuers now in charge say.
- For more stories go to www.BusinessInsider.co.za.
There very likely will be no Kulula.com or South African domestic British Airways planes in the sky before 1 November.
The parent company for those brands, Comair, will require a "substantial" cash injection if it is to return to operation by that date, business rescuers told interested parties – regardless of the fact that Alert Level 3 allows some domestic passenger air travel again.
Six sets of discussions with potential funders are now underway, Comair said in a statement, and "it is likely that the existing shareholder base will be substantially diluted".
Employees have been placed on unpaid leave, and retrenchment proceedings are underway.
When – or perhaps if – Comair starts flying again, its schedule will be much reduced. Its current fleet of aircraft number 27, the company says. Its business rescue practitioners have proposed reducing that to 13, with three spares.
Ticket holders who bought seats directly from Comair have until the end of October 2021 to use those tickets, though they may have to pay a fare difference for new bookings. Their other option is to become creditors as part of Comair's business rescue, and stand in line with others who have money due to them.
(Compiled by Phillip de Wet)
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