Comair’s business rescue practitioners (BRPs), Shaun Collyer and Richard Ferguson, have asked creditors to extend the publication date for their business rescue plan to June 30.
The plan was expected to be published today (June 23). This was an extension from the original date of June 9.
The BRPs said earlier this month they were in discussions with funders to recapitalise the airline and resume domestic passenger operations by November 1. Over 30 potential funders had been contacted and six were progressing discussions.
Now that an expression of interest in cash funding had been received, a due diligence investigation and further negotiations would take place, the BRPs said. The practitioners require a binding offer to be made so that sufficient details of this can be included in the business rescue plan.
