Comair in talks for R3bn jet funding

Johannesburg - South African airline operator Comair [JSE:COM] is in talks with local and foreign banks to fund a R3bn shortfall for the purchase of new Boeing B737-800 jets, a senior company executive said on Wednesday.

Comair joint CEO Erik Venter said the firm was talking to Citi, Standard Chartered, Absa and Nedbank to further finance the purchase of eight new B737-800 jets expected to be delivered in 2012.

The company raised R125m towards the acquisition cost of the new aircraft through a rights issue in April.