Comair expects increased earnings per share for 2H2016

Comair (South Africa) stated (27-Jan-2017) it expects earnings per share to increase 125% and 145% year-on-year for 2H2016. Headline earnings per share are expected to increase 213% and 233% to between ZAR0.41 (USD0.03) and ZAR0.44 (USD0.03). The expected increase is primarily due to the strengthening of the rand against the US dollar, resulting in the reversal of unrealised translation losses on a dollar denominated aircraft loan amounting to ZAR98 million (USD7.2 million). Furthermore, all loss making open oil hedges matured by 31-Dec-2015 and no further hedges were entered into. [more - original PR]