Comair profit up in FY2011

Comair revenue up 19% - financial highlights for six months ended 30-Jun-2011:

• Revenue: USD437.2 million, +19.2% year-on-year;
• Cost of materials and services: USD336.7 million, +22.3%;
• Net profit: USD102.7 million, +8.9%;
• Total assets: USD256.4 million, +4.0%;
• Bank and cash: USD28.5 million, -37.5%;
• Total liabilities: USD158.8 million, +0.4%. [more - original PR]

*Based on the conversion rate at USD1 = ZAR8.20597

Comair: "Our outlook for the next year is very cautious. We are anticipating a flat travel market due to a weak economy and ongoing pressure on consumers. A stubbornly high oil price and unaffordable airport fees will be passed on in the form of higher airfares, putting further pressure on the market. We have reduced capacity on certain routes in anticipation of this but will have the flexibility to add additional flights if necessary." Company statement. Source: Comair, 17-Nov-2011.