The airline said its ticket sales had been suspended with immediate effect.
Comair CEO Glenn Orsmond said: “We deeply regret the inconvenience this suspension will cause our customers. We did everything we could to avoid it. Comair, the BRPs and the lenders are working all out to get the funding in place so we can resume our normal flight schedule as soon as possible.”
He was optimistic Comair’s financial woes would be soon resolved.
“Comair is inherently a viable business. We have the two of the best airline brands in the country. We are on track to carry more than four million passengers this year and generate R5.3bn in revenue. We have excellent staff, a modern fleet, good sales and distribution channels and low operating costs, which is why we believe the funding will be secured.”
The company said it would cater for affected passengers who sought a full refund for their tickets or for those who wish to bank the tickets for future use.