Comair’s business rescue practitioners, Shaun Collyer and Richard Ferguson, will publish their business rescue plan on June 23.

This follows support from creditors who voted to allow a short extension. The date of publication was set for Tuesday (June 9) but the BRPs requested an extension based on the fact that Comair was still in the process of finalising its financial statements for April.

“This information is required so that the practitioners are able to reconcile creditors’ claims with the company’s records,” the BRPs said in a statement.

The BRPs also said Comair was awaiting the independent calculation of the liquidation dividend that creditors would receive if the company were to go into liquidation.

According to the statement, the business rescue practitioners would like to consult further with affected parties in order to prepare a thorough business rescue plan

The BRPs were quick to assure creditors, customers and the travel trade that they were “on track” to return Comair to the skies by November “for the benefit of everyone and contribute to the recovery of the South African economy”.

“We believe we remain on track to do this but need a little more time to complete a suitably comprehensive and sustainable business rescue plan.”

As reported earlier this month, the proposed business rescue plan includes the rationalisation of the current fleet from 27 aircraft – including the grounded Boeing 737 MAX8 – to 13 B737-800s and three spare B737-400s.

A downsized fleet would be in line with what the company could afford to operate as well as the projected demand for air travel post the COVID-19 crisis, the BRPs said.