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Comair in negotiation with banks for USD412m in aircraft funding

19-Aug-2010 12:56 PM

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.