Comair secures new debt

[Bradley Prior]

Comair secures new debt

Comair Ltd., the South African partner of British Airways, said it secured financing from banks, paving the way for the resumption of flights in December. [Bloomberg]

 

[system32]

And no R10.5billion taxpayer funded bailouts.

This is how it should be done.

#VoetsekSAA and don't use the R10.5 billion to compete with private sector/Comair

 

[SilverCode]

Lol, that is a slap in the face for SAA.

 

[saor]

Lol, that is a slap in the face for SAA.

More like a slap in the face for the taxpayer funding SAA and their bs.

 

[Danie_V]

And Comair really deserves it! A way better run airline and makes economic sense. Yes a major snub to both SAA and Government who are making a really bad economic decision, and one which costs us taxpayers. Comair shows that an airline in South Africa can be viable.

 

[JayM]

Now that SAA has been bailed out, does Comair get the ~R1bn owed to them?

 

[Georgios]

Now that SAA has been bailed out, does Comair get the ~R1bn owed to them?

At 7 cents to the rand. Airlink are also owed money.

 

[JayM]

At 7 cents to the rand. Airlink are also owed money.

This only happens in the case of liquidation. SAA has been bailed out and is now a going concern. I can see Comair back in court to force either payment or liquidation to get part thereof.