Comair has been given the all-clear by the South African Civil Aviation Authority (SACAA) to return to the skies this morning after the body finished its audit of the airline, which operates low-cost carrier Kulula.com and British Airways, on Wednesday evening.
The SACAA originally suspended Comair flights on Saturday for 24 hours following a review of the airline operator’s policies and systems. The SACAA said it undertook the review following a recent spate of safety concerns at the airline. Comair expected to be flying again by midday on Sunday, but SACAA suspended the airline’s Air Operators’ Certificate (AOC) indefinitely with Level 1 and Level 2 issues identified.
Passengers were left stranded in the following days with price spikes and lack of capacity on other airlines affecting travel. Comair said it accounts for around 40% of domestic air travel capacity.
On Wednesday evening the SACAA said it was satisfied following an evaluation of the evidence provided by Comair to close the Level 1 findings against the airline and reinstate the AOC. The SACAA has been working with the airline day and night since Saturday evening reviewing evidence.
Comair chief executive Glenn Orsmond said in a statement the airline is pleased to have the suspension removed after a thorough review of documentation. He said the focus is for the airline to return operations to normal as quickly as possible.
Comair will phase in its schedule on Thursday and passengers are urged to first check the schedules online before going to the airport.
Turning our attention to the Russia-Ukraine war, Ukrainian President Volodymyr Zelensky addressed the United States Congress via video link on Wednesday and pleaded with the US to provide more assistance in the fight against Russia.
Zelensky asked the US to impose a no-fly zone while also asking the country to live up to the global rhetoric of being the “leader of the world”.
Meanwhile, US President Joe Biden announced $800 million in military aid for Ukraine while US officials cautioned Russia against using chemical or biological weapons in the war. Part of the military aid package will include sending military drones and anti-aircraft and anti-tank missiles.
In the markets, the US Fed raised rates by 25 basis points at yesterday’s FOMC meeting in line with market expectations. The Fed indicated it would hike rates a further six times this year.
“Markets took the FOMC decision in their stride, with the Dollar subsequently softening and the rand firming 1.27% to close at R14.91/$ as it led EM currencies stronger. This morning we have the rand trading relatively flat at R14.92/$ in a very quiet Asian market,” comments TreasuryONE.
On the commodity front, gold is trading a touch firmer this morning at $1,933, platinum is flat at $1,018, and palladium is up 2.6% at $2,472. Brent crude closed below $100.00 last night and is currently quoted at $99.75.
“Some slightly positive news out of the Russia/Ukraine talks, along with concerns over the surge in Covid cases in China, is keeping the oil price in check for now,” says TreasuryONE.
