Comair buys aircraft leasing, maintenance companies

South African private-sector airline group Comair announced on Friday, via a Stock Exchange News Service release at the Johannesburg Stock Exchange, that it was acquiring the “shares and claims” of Star Air Maintenance (Proprietary) Limited ((Pty) Ltd) and Star Air Cargo (Pty) Ltd. The deal involves paying the sellers R75-million, plus profit share payments.

“Comair has acquired the Assets to extend its diversification strategy into the leasing of aircraft, while also providing Comair with the expertise and systems to establish a base for heavy maintenance checks on its fleet of [Boeing] 737-800 aircraft,” stated the release. Star Air Maintenance provides maintenance for Star Air Cargo’s own fleet as well as for third party operators.

Star Air Cargo is actually an aircraft leasing company, specialising in short and medium term leasing of both passenger and cargo aircraft to operators in Africa. It possesses a Part 121 domestic and international aircraft operating certificate.