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14-Feb-2020 9:06 AM

Comair expects to report loss for 2H2019

Comair stated (13-Feb-2020) earnings per share and headline earnings per share for 2H2019 are expected to be "more than 170% lower" year-on-year, resulting in a loss and headline loss for the period. The company attributed the expected result to the following:

  • An increase in operational costs pertaining to aircraft lease and maintenance costs, arising from the replacement of five owned Boeing 737-400s with five leased 737-800s;
  • An increase in aircraft line maintenance costs arising from the transition of the fleet from SAA Technical to Lufthansa Technik;
  • Earnings continue to be negatively impacted by cumulative losses incurred as a result of the ongoing Boeing 737 MAX grounding. No accrual for compensation from Boeing has been raised but negotiations are under way. [more - original PR]
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