Listed aviation company Comair has returned to the black, thanks to increased passenger volumes and improved load factors. The airline on Wednesday reported headline earnings per share of 5,4 cents for the six months ended December 31 2004 from a loss of 1,4 cents for the same period a year ago.
No interim dividend was declared for the period as it is company policy to declare one dividend annually in September.
Comair’s revenue was up 14% at R830,9-million from R729,5-million before, while attributable earnings rose to R27,3-million from a loss of R9,2-million before.
Operating profit amounted to R40,7-million compared with an operating loss of R2,9-million for the comparable period.
The company said operating costs benefited from the strong rand and the fleet upgrade programme contributed to improved operating efficiency while also increasing the average capacity per aircraft.
The negative effect of the high fuel price was partially offset by a fuel surcharge on ticket sales. – I-Net Bridge