Mango, Comair clip one another’s wings in public relations battle

2014-09-09 15:54

They came through within a minute of each other – the press releases of Comair and Mango’s financial results.

Comair, which flies British Airways in South Africa and kulula, put its financial results on the JSE news service earlier in the day. But it took exactly one minute after Comair sent out a press statement for rival Mango to issue one too.

So which company is winning the public relations battle?

Mango said it achieved “record profits” for the year to March. Its net profit was R40 million.

The airline increased revenue by 42% due to capacity growth of more than 25% and “an average load factor hike to 82.35%”. It said it has increased its market share.

Comair’s revenue grew by 17% to R6.28 billion in the year to June and comprehensive income increased by 16% to R265 million.

Its passenger numbers increased by 3% despite the local market declining by 4%, indicating it had also picked up market share.

But the capacity growth, mentioned by Mango too, resulted in 6% lower seat occupancy rates.

Comair’s chief executive, Erik Venter, said the biggest problem was accommodating an 18% decline in the value of the rand, which contributed to a 19% increase in fuel prices.

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