It seems as though Comair is unlikely to ever return to the skies. Earlier today, the airline's business rescue practitioners released a statement saying they do not see a reasonable prospect that the airline can be rescued. The practitioners are also applying to convert business rescue proceedings into liquidation proceedings. Comair surprised many last week when it immediately suspended flights and ticket sales.

The past couple of years hasn't been great for South African aviation. South African Airways joined Comair in business rescue proceedings. While SAA managed to get out, it doesn't look like Comair will be so lucky.

No reasonable prospects of rescue

When Comair suspended operations last week, it was confident that it would be able to secure funding to resume operations reasonably swiftly. In a statement issued today, the rescue practitioners revealed that the airline had not successfully received this funding. As a result, they stated,

The company's joint business rescue practitioners give notice herewith that they no longer believe that there is a reasonable prospect that the company can be rescued.

This effectively means that those administrating Comair will switch from trying to save it to liquidating it. The airline has now applied in court to convert the ongoing proceedings to liquidation proceedings. This essentially means that there is little to no hope that the airline will now return to the skies. Commenting on the announcement, Richard Ferguson, one of the rescue practitioners, remarked,

"We did our utmost to secure the funding, but when we were unable to do so had no option to lodge the application. It is an extremely sad day for the company, its employees, its customers and South African aviation."

What does this mean for passengers?

Comair reportedly held a 24-hour one-day sale the day it went on to suspend all flights and ticket sales until future notice. The airline's CEO told South Africa's Cape Talk that the sale was not an attempt to raise capital as a last resort.

However, those who parted with their funds to book flights will surely be wondering what happens next. When Comair suspended flights last week, it revealed that British Airways passengers could benefit from the British Airways book with confidence policy (which has since been revoked by the British flag carrier). Meanwhile, Kulula passengers could get a travel credit or a full refund.

The situation looks to have now changed slightly. On Tuesday, the airline revealed that British Airways passengers traveling between June 7th and 12th would be able to rebook for free with Airlink. In a statement to Simple Flying, a British Airways spokesperson said,

"We're contacting customers due to fly with Comair to offer them rebook and refund options, including flights on other carriers where possible. British Airways services between London and South Africa continue to operate as normal and we’ll continue to provide support and assistance to our franchise partner and their colleagues at this difficult time."

However, refunds for affected passengers seem to be out of the picture. Announcing the insolvency application, the airline revealed that employees and customers of the airline who held bookings or were owed refunds are now considered the company's creditors, meaning that getting their money back will likely become significantly harder.

What do you make of Comair's decision to enter liquidation? Let us know what you think and why in the comments!

Sources: Comair, Cape Talk