On Tuesday afternoon the business rescue practitioners (BRPs) for South African private-sector airline group Comair asked its creditors to extend the publication date for the airline’s business rescue plan by a month (until August 28). The creditors have until midday Wednesday to respond. The extension request has been made for two reasons. One is so that the BRPs can secure short-term bridging funding (post-commencement finance) for Comair. This is “urgently required” (in the words of the BRPs press release) to allow the airline to meet its remaining (“limited”) operational overheads and to allow the business rescue process to continue.
from Engineering News | Home https://ift.tt/3gavEH2
