Tag: wrenelle stander
JSE-listed airline, Comair, has announced the group will enter business rescue to safeguard the interests of the company and its stakeholders after the COVID-19 crisis disrupted the implementation of a turnaround plan.
JSE-listed airline operator Comair has reported a R555 million half-year net loss. The company is facing tough skies ahead as it looks to claim compensation from Boeing for the grounding of the Boeing 737 MAX 8 as well pursuing to claim the full outstanding amount owed by SAA whilst implementing cost cutting measure. Comair CEO, Wrenelle Stander joins CNBC Africa for more.
Comair’s revenue increased by 9 per cent to R7.1 billion in the year to-end June mainly attributed by R1.27 billion settlement it received from SAA. The company also saw a 16 per cent increase in operating expenses to R6.26 billion. Joining CNBC Africa for more is Wrenelle Stander, Joint CEO, Comair Limited.
There have been quite a few board changes in corporate South Africa in the last few hours in everything from mining to airlines. CNBC Africa's Chris Bishop filed this special report.