{"id":444908,"date":"2020-10-31T15:53:46","date_gmt":"2020-10-31T13:53:46","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=444908"},"modified":"2020-10-31T15:53:46","modified_gmt":"2020-10-31T13:53:46","slug":"kulula-owner-comair-secures-new-debt-as-lenders-back-rescue","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/444908\/kulula-owner-comair-secures-new-debt-as-lenders-back-rescue\/","title":{"rendered":"Kulula owner Comair secures new debt as lenders back rescue"},"content":{"rendered":"<p>Comair Ltd, the South African partner of British Airways, said it secured financing from banks, paving the way for the resumption of flights in December.<\/p>\n<p>The lenders, which weren\u2019t identified, will provide the airline with new debt facilities and defer interest payments on existing debt, according to a company statement.<\/p>\n<p>Comair has also reached an agreement with labor unions, it said.<\/p>\n<p>Comair, which operates the low-cost Kulula brand, was put into a form of bankruptcy protection in May after South Africa banned non-essential travel to contain the spread of the coronavirus.<\/p>\n<p>The government has since cleared air travel, and domestic carriers including FlySafair and state-owned Mango are experiencing a pickup in demand.<\/p>\n<p>Comair\u2019s shareholders include British Airways, part of IAG SA, and South African industrial group Bidvest Group Ltd.<\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/business\/434677\/kulula-owner-comair-to-delist-from-the-jse-as-it-adopts-new-rescue-plan\/\" target=\"_blank\" rel=\"noopener noreferrer\">Kulula owner Comair to delist from the JSE as it adopts new rescue plan<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Comair Ltd, the South African partner of British Airways, said it secured financing from banks, paving the way for the resumption of flights in December.<\/p>\n","protected":false},"author":59,"featured_media":430938,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[4473,3155,26],"class_list":["post-444908","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-bidvest","tag-comair","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/444908","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=444908"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/444908\/revisions"}],"predecessor-version":[{"id":444910,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/444908\/revisions\/444910"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/430938"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=444908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=444908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=444908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}