Comair profit jumps 184% thanks to R1bn from SAA

Atmosphere Communications

In its results for the year to end-June, Comair Limited [JSE:COM] announced that its headline earnings per share were184% higher than in the previous year.

This is a “direct consequence” of a massive payout it is getting from SAA. Comair, which operates kulula and British Airways in Southern Africa, won a legal settlement from SAA after a fight about SAA's incentive scheme for travel agents, which was in place from 2001 to 2006.

Comair contended that the scheme was in breach of the Competition Act, and won R1.1bn plus interest - as well as legal costs.

Read: Comair: We have been profitable for 72 years

Comair's revenue increased by 9% to R7.1 billion.


ZAR/USD
17.54
(+0.65)
ZAR/GBP
22.98
(+0.68)
ZAR/EUR
20.65
(+0.58)
ZAR/AUD
12.58
(+0.63)
ZAR/JPY
0.17
(+1.00)
Gold
1947.58
(-3.99)
Silver
26.93
(-7.37)
Platinum
938.00
(-4.66)
Brent Crude
44.95
(+1.33)
Palladium
2123.00
(-4.73)
All Share
57451.33
(+1.22)
Top 40
53112.03
(+1.29)
Financial 15
10149.26
(+2.54)
Industrial 25
75522.89
(+1.14)
Resource 10
59625.80
(+1.15)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 950 votes
It depends on how the funds are used.
74% - 6338 votes
No. We should have gotten the loan elsewhere.
15% - 1307 votes
Vote