Administrators for S.Africa’s Comair say binding offer received

PUBLISHED: Sat, 29 Aug 2020 12:22:36 GMT

JOHANNESBURG (Reuters) – Administrators for South Africa’s Comair Ltd said on Friday they had received a binding offer from their preferred investors in the airline, and would request to delay the publication of their rescue plan to Sept. 2 as a result.

“[Administrators] have now received a final binding offer from the preferred investors late this afternoon, and the terms of this offer must now be incorporated into the business rescue plan,” they said in a statement.

Comair has been under a form of bankruptcy protection since May and the publication of its rescue plan has so far been delayed by more than two months.

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