South African carrier Comair has told its shareholders that it has ended talks to acquire an undisclosed company.
“The company’s negotiations to potentially acquire a company have been terminated for the moment,” Comair said in an Aug. 17 disclosure to the Johannesburg Stock Exchange.
The talks were first announced in April; as recently as July 6, Comair said they were ongoing.
While no company was named, some media reports hinted Comair could have been interested in South African Airways’ (SAA) low-cost carrier Mango. ATW has not confirmed this.
SAA has been going through turbulent times in recent years, trying to step losses, regain management stability and get back on track with its long-term strategy. The mainline carrier is also seeking an equity partner.
Comair, which operates as a British Airways franchise carrier, also is the parent of low-cost carrier Kulula.com. Earlier this year, Comair faced a challenge to its ownership-and-control structures, although it secured permission to continue flying while the matter was investigated.