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South Africa's Comair can be saved

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JOHANNESBURG - Administrators in charge of South African aviation company Comair believe there are "reasonable prospects" of saving the company.

The airline management had filed for a form of bankruptcy protection earlier this month.

Comair has assets of 7.4 billion rand ($407.1 million) on its balance sheet compared to 5.5 billion rand of liabilities and is not factually insolvent, the company said in a statement. The administrators will probably publish a business rescue plan on June 9.
© Reuters, | 19/05/2020 14:34

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