Business In The News South Africa

Comair FY2017 earnings to surge to 104%

JOHANNESBURG, August 14  – Comair Airways said on Monday that its headline earnings per share for the year ended 30 June 2017 were expected to be between 85 percent and 104 percent higher than those reported for the year ending 30 June 2016 at between 67 and 75 cents per share.
This is a significant improvement in Comair’s earnings as the airline posted headline earnings per share of 42.8 cents for six months period ending 31 December 2016.
Comair said the expected increases were primarily as a result of a partial recovery of exchange losses incurred in the comparative period pertaining to the restatement of the dollar denominated aircraft loan, as well as the non-recurring losses on oil hedges incurred last year.
The South African airline, which operates British Airways and its low-cost brand, kulula.com, will release its financial results for the year ended 30 June 2017 next month.

ANA

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