Comair (South Africa)
Johannesburg-based Comair Limited is a South African airline offering regional services to destinations in South Africa, Mauritius, Namibia, Zambia and Zimbabwe. Since 1998 Comair has operated as a South African franchise of British Airways, operating much of its services under the British Airways brand and with bookings available through the BA website. Comair also wholly-owns the Johannesburg-based South African LCC kulula.com, which offers an extensive domestic and regional network.
All capacity figures only include flights operated under the Kulula brand (MN code). Flights operated under the BA brand and BA code are not counted.
In May-2020, Comair entered business rescue proceedings after the impact of the coronavirus pandemic and the resulting lock down in South Africa disrupted its existing turnaround plans.
In Sep-2020, Comair adopted a business rescue plan. The business rescue process is expected to conclude by 31-Mar-2021.
On 30-Mar-2021, Comair (South Africa) stated it has no desire to remain listed on the Johannesburg Stock Exchange and its listing will be removed on 07-Apr-2021. The company's shares were suspended from trading when it commenced business rescue proceedings on 05-May-2020.
In Sep-2021, Comair (South Africa) reported capital inflows of ZAR270 million (USD19 million), comprising ZAR250 million (USD17.6 million) from the sale of its SLOW Lounge business to FirstRand Bank and a ZAR20 million (USD1.4 million) payment from South African Airways (SAA). The distribution from SAA is part of ZAR1.1 billion (USD77.5 million) owed by SAA to Comair for the settlement of a damages award for anti-competitive behaviour. SAA paid ZAR289 million (USD20.4 million) in Feb-2019 and the balance is payable in instalments until Jul-2022.
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