Comair, which grounded its British Airways (domestic) and Kulula flights a week ago due to a funding crunch, has failed to raise the cash it needs to return to the air.
Its business rescue practitioners said in a statement on Thursday the “requisite funding could not be raised for the company to continue with its operations”.
“Accordingly, the company’s joint business rescue practitioners give notice that they no longer believe that there is a reasonable prospect that the company can be rescued.”
Comair employs 1,200 people.
Four out of every 10 domestic tickets sold in SA are BA or Kulula tickets‚ and Comair said recently it had been on track to fly 4-million passengers this year.
It went into business rescue in 2020 during the Covid-19 lockdown. The airline company, which has a 76-year history in SA, was hit hard by travel restrictions and the rising oil price.
It was also grounded for five days in March by the SA Civil Aviation Authority due to safety concerns.
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