Comair to file for business rescue

South Africa’s lone JSE-listed aviation group, Comair, has filed for voluntary business rescue and to suspend its listing on the bourse. This follows it grappling with the major economic fallout from the Covid-19 pandemic.

The unprecedented move was announced in a JSE Sens statement on Tuesday afternoon.

Read: Comair Covid-19 cautionary: We may only fly by October

Comair, which owns low-cost airline kulula.com and operates British Airways local flights in South Africa, said the move is due to the company being “unable to operate given the current restrictions to air travel in the country.”

The latest announcement comes after the group put out a cautionary Sens statement on the JSE last Thursday noting that it may only start flying again as late as October or November due to Covid-19 lockdown restrictions.

* This is a developing story