Comair reports USD23m profit for FY2012/13

Comair (South Africa) reported (10-Sep-2013) a headline profit of ZAR231 million (USD23 million) and a 29% year-on-year increase in revenue to ZAR5.38 billion (USD537 million) for the year ended 30-Jun-2013. The airline also realised its strategy to reduce operating costs driven by high fuel prices and currency exchange rates, implemented from the end of 2011. The programme included a freeze on all non-critical costs, implementation of a new Sabre Airline Solutions IT platform and delivery of four new Boeing 737-800s. The airline reported substantial improvements in revenue integrity, inventory management, ticket pricing and productivity with the new IT system. The 737-800s delivered a 24% fuel saving per passenger compared to the 737-400s they replaced. Comair CEO Erik Venter said the airline remained confident of sustained efficiency. Mr Venter said, "2014 will be the first full year of operation for the new 737-800s, and we look forward to the delivery of the next four aircraft in late 2015 as well as potential further aircraft orders for delivery post 2018. Our much improved infrastructure as well as our reputation and ongoing focus on safety, customer service and efficiency have built a sustainable foundation to accommodate growth opportunities and ensure that Comair continues to play a major role in the Southern African aviation and travel industry." [more - original PR] [more - original PR - II]