CEMAIR in financial trouble

In Feb 2026 I booked a return flight on CEMAIR from George WCape to Johannesburg. 3 days before the flight was due to take off, CEMAIR cancelled the flight without reason and gave me the option of a full refund, which I opted for. Now, 8 weeks later, I still haven't received my refund from CEMAIR, despite numerous calls and emails to them and I have a very distinct feeling that CEMAIR is in financial trouble. They do not have the money to refund passengers and I see they cancel more and more flights without reason. I would stay away from this airline and avoid booking any further flights for the time being - until we find out if they are being liquidated or not.