Kulula.com business practitioners ask for new delay to publish plan

Business

Johannesburg – Comair’s business rescue practitioners have asked for another extension to deliver the airline’s business rescue plan. This time they are pushing the date to July 28.

The business practitioners are saying because of a “non-binding expression of interest” they received from a group that might be interested in providing cash refund for the owner of Kulula.com and British Airways in SA, they need more time.

The group’s creditors now have to say whether or not they agree to the extension.

The offer of interest was received on the evening of Sunday, 21 June. The BRPs say they are still considering certain legal complexities of the offer and how it could affect the outcome of the business plan.

“Until such time as these legal complexities are clarified and resolved with the interested group, the practitioners are unable to publish a business rescue plan that will contain information reasonably required to facilitate affected persons deciding whether or not to accept or reject a plan,” they said in a statement on Tuesday.

Comair went into voluntary business rescue on 5 May 2020, and Shaun Collyer and Richard Ferguson were later appointed as the company’s joint business rescue practitioners.

 

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