"The flying public can once again expect to achieve low airfares," said Glenn Orsmond, former joint chief executive and representing the group infusing equity capital into the airline.
The company, which operates budget airline kulula.com, has started taking bookings to and from five airports in the country including the metropolitan cities of Johannesburg, Cape Town and Durban, according to its website.
Former board members and executives of the company had agreed to infuse 500 million rand ($32.16 million) equity into the airline as part of a restructuring deal struck with the administrators of the company.
The approved rescue plan also entails 600 million rand in fresh loans from its lenders, a deferred payment of 800 million rand and delisting from the Johannesburg Stock Exchange (JSE).
The airline, which also operated the British Airways franchise in South Africa, said domestic and regional flights of British Airways will resume over the next few months.
Customers who booked tickets before Comair was placed in business rescue will be able to redeem the value of their tickets through the Comair Travel Bank for future travel on Comair from mid-January onwards, the statement said.
($1 = 15.5486 rand)
(Reporting by Promit Mukherjee; Editing by Bernadette Baum)
