South Africa’s Comair Files Chapter 15 Bankruptcy in New York

Comair Ltd., the South African partner of British Airways, filed for protection from creditors in New York.

• Chapter 15 bankruptcy allows firms to protect their U.S. assets from litigation while they work out a restructuring in another country
• Comair, which operates the low-cost Kulula brand, was put into a form of bankruptcy protection in South Africa last year after South Africa banned non-essential travel to contain the spread of the coronavirus
• PREVIOUSLY: South Africa’s Comair Secures New Debt as Lenders Back Rescue
  • In a Feb. 5 status report, Comair said it “continues to operate whilst steady progress is being ...