South Africa’s oldest private airline, Comair in liquidation after it fails to get funds
South Africa’s oldest private airline, Comair will stop operations permanently after its bankruptcy protection lawyers on Thursday filed an application to liquidate the company, which had failed to secure funding to stay airborne after being severely impacted by global pandemic-related travel restrictions.
The end of the company, whose neon green aircraft under the low-cost kulula.com carrier had dotted tarmacs across the country’s airports, comes after two years of interventions by bankruptcy protection lawyers, investors, and employees to save the 75-year-old airline.
The carrier, which also ran the British Airways franchise in South Africa, started operations in 1948 as a chartered service between Johannesburg and Durban and later ferried Anglo American’s employees between gold mines. It entered commercial service in 1992.
“We did our utmost to secure the funding, but when we were unable to do so, had no option to lodge the application,” Richard Ferguson, the company’s business rescue practitioner, a category of lawyers hired as administrators to save a company from liquidation, said in a statement.
“It is an extremely sad day for the company, its employees, its customers and South African aviation.” Comair, along with the national carrier South African Airways, were the two hardest-hit domestic airlines after the COVID-19 pandemic forced countries to seal international borders.
This report’s information was first seen on Zawya; to read more, click this link.
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