'South African airline rescue deal approved'

South Africa's Competition Tribunal has approved a rescue deal for struggling airline Comair on condition investors allocate shares to a black empowerment structure, reports Reuters news agency. 

A portion of shares will go to an employee shared-ownership programme, Reuters adds.

Comair operates the British Airways franchise in South Africa as well as budget airline Kulula.com.

South Africa's coronavirus lockdown stopped Comair operations in March, and it was forced into a form of bankruptcy protection in May.

The news agency adds that the tribunal also approved the bailout on the condition that the company would not cut jobs for three years.

This article originally appeared on BBC News

Photo: SAA