South African airline Comair applies for business rescue

JOHANNESBURG (Reuters) – Comair said on Tuesday that it has filed for voluntary business rescue – South Africa’s bankruptcy protection process – after a nationwide lockdown to curb the spread of the coronavirus forced airlines to suspend all commercial flights.

Comair, which operates the British Airways franchise in South Africa and owns budget airline Kulula, also said it has applied to the Johannesburg Stock Exchange for its shares to be suspended with immediate effect.

(Reporting by Nqobile Dludla; Editing by Olivia Kumwenda-Mtambo)