Comair - South Africa

A group of investors, which also owns budget airline Kulula and operates the British Airways franchise in South Africa, have bought a 16.1 percent stake in South African airline Comair in a deal worth around ZAR130 million rand (USD$18.6 million). The deal results from a requirement for South African companies to sell stakes to black investors, part of an effort to boost participation in the mainstream economy following decades of exclusion under white rule.

Comair created a new class of shares for the new investors representing 15 percent of the firm, for an initial fee of 741,000 rand. The consortium will also buy a 1.1 percent stake in the firm from existing shareholders for cash.

"Comair has calculated the total economic cost of entering into the BEE Transaction for the Company and its shareholders to be approximately ZAR27 million (USD$3.9 million)," said Comair in a statement.

Porter Airlines Gets Mascot

Just shy of its launch this fall, Porter Airlines, the Toronto-based airline set to begin service from Toronto's City Center Airport, has adopted a mascot in the guise of Mr. Porter, a smart and cheeky raccoon designed to express the airline's personality. Created by London-based Winkreative, which is tasked with branding and advertising the new carrier, the character will debut as part of a pre-launch teaser campaign. A raccoon was chosen as representative of Canada, as an alternative to the much-used maple leaf, already identified with Air Canada.