About: http://data.cimple.eu/news-article/574517fa880af70418064b7e35e2b4a99a7af4e558e10e102aa8543b

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About: http://data.cimple.eu/news-article/574517fa880af70418064b7e35e2b4a99a7af4e558e10e102aa8543b Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	Embattled South African airline Comair on Tuesday announced it had entered a voluntary bankruptcy protection process -- as the COVID-19 suspension of commercial flights sends the carrier plunging further. Comair, which operates the British Airways franchise in South Africa and the low-cost Kulula said the move would "safeguard the interests of the company", noting in a statement that the "grounding is likely to endure until October or even November." The carrier was already under financial strain before being forced to stop flying on 26 March, reporting a half-year loss of 564 million rands ($30.7 million) for the first half of 2020. "These extraordinary circumstances have completely eroded our revenue base while we are still obliged to meet fixed overhead costs," said Comair Chief Executive Wrenelle Stander. "The only responsible decision is to apply for business rescue." The airline was also granted approval to suspend the trading of its shares on the Johannesburg Stock Exchange with immediate effect. Comair joins the embattled state-owned South African Airways (SAA) which was placed under a state-approved business rescue plan in December as a last-ditch resort to save the company from total collapse. Customers who purchased Comair tickets will be able to change their reservations within twelve months of their original departure date. mgu/cdw
schema:headline	South African airline Comair placed under business rescue plan
schema:mentions	South African Airways Bankruptcy British Airways South Africa Severe acute respiratory syndrome coronavirus 2 Kulula.com Airlines of Africa Comair JSE Limited Twelve Months (1980 film) Lionel Stander Insolvency CDW
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-05-05 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	82 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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