The company, which is under a local form of bankruptcy protection called “business rescue,” said in a statement that efforts to raise the necessary capital were under way and there was reason to believe funding could be secured.
“Once received the airline will be able to recommence operations, but regrettably under these circumstances, the practitioners (administrators) have no choice but to voluntarily suspend all scheduled flights until the funding is confirmed,” it said.
Comair said it had suspended ticket sales for British Airways operated by Comair flights, as well as ones for its low-cost kulula.com brand.
(Reporting by Wendell Roelf and Alexander Winning; Editing by Sandra Maler)

Really sad to read this. Comair have been around forever & were always the ‘solid’ airline that the travel industry could rely on.
Given that in the last week I have received a promotion from them, I find this very poor indeed. At the very least bad planning which one would not expect from an aviation organisation.
Their policy of cancelling flights if the passenger load was too low has caused many to avoid them like the plague. This chain reaction causing policy put them in a tailspin: loss of customers leading resulting in even lower passenger loads causing even more cancelled flights resulting in the loss of even more customers.
Result: Safair has eaten Comair’s lunch and Comair is disappearing.
Almost every negative airline experience I’ve had has involved Comair.