Comair in negotiation with banks for USD412m in aircraft funding

Comair is in negotiations with Citi, Standard Chartered, Absa and Nedbank to receive USD412 million in funding for the purchase of eight new B737-800 aircraft expected to be delivered in 2012 (Reuters, 18-Aug-2010). The company raised ZAR125 million (USD17 million) towards the acquisition cost of the new aircraft through a rights issue in Apr-2010.