South Africa’s Comair Seeks More Cash

South Africa's Comair Seeks More Cash (News Central TV)

Comair said it will need “more cash” to “maintain its activities on a long-term basis.” This was revealed in the most current company rescue status report, which was released at the end of January.

The “Covid-19 Omicron variant, and the resulting foreign travel prohibitions, particularly by the government of the United Kingdom,” according to the firm, had an “adverse impact on flown income for the company versus its predicted revenue over the holiday season.”

Simply put, the inbound visitors it had anticipated, notably, those flying on British Airways, did not show up.

Air Safety: British Airways, Kulula Flights Grounded for 24 Hours (News Central TV)

According to the article, in January, the airline undertook a financial investigation, which revealed that it had “lost about R100 million in previously booked but ‘unflown’ money.”

Your Friends Also Read:  SA Warns of New Covid-19 Variant as UK Suspends Flights to Six African Countries

The airline states its executives are “considering several possibilities” in order to satisfy its cash requirements in the short to medium term, in collaboration with the “Comair Rescue Consortium” (whose offer was accepted by business rescue practitioners and creditors in September 2020).


All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from News Central TV.

Contact: digital@newscentral.ng

Total
0
Shares

Leave a Reply

Previous Article
Nigeria’s IGP in Dubai for World Police Summit (News Central TV)

Nigeria’s IGP in Dubai for World Police Summit

Next Article
Suspected Al-Shabaab Militants Kill Ten Kenyan Soldiers (News Central TV)

Suspected Al-Shabaab Militants Kill Ten Kenyan Soldiers

Related Posts
Powered by Live Score & Live Score App