South Africa's Comair Administrators to Present Restructuring Plan by June 30

Administrators in charge of South African airline Comair said on Tuesday they have been given an extension to June 30 to submit a restructuring plan for the carrier, Reuters reported. Earlier in the day the administrators said they had received a cash offer for the carrier from a company they did not name. The administrators, who had been expected to present a restructuring plan for the airline on Tuesday, asked creditors for another week - until June 30 - to finalise the cash offer before presenting the plan. Comair had to file for business rescue, a form of bankruptcy protection, in May after a nationwide lockdown to curb the spread of coronavirus forced airlines to suspend all commercial flights. It said last month it was unable to meet its debt obligations as it was not generating any cash. Read more