Comair profits up 54% (marking 71 profitable years in a row, no bailout needed)

Kulula.com aircraft. Picture: Kulula travel.

Kulula.com operator Comair increased profits by 54% to R197 million, according to annual results the company released on Tuesday.

It reported a 28% increase in cash its operations generated.

Earnings per share was 63.6 cents, up from 41.5c in the previous financial year.

Headline earnings per share was 67c, up from 36.5c in the preceding financial year.

Comair declared dividends of 21c per share, up from 16c.

Comair has been operating successfully in South Africa since 1946.

It’s thought to be the only airline in the world to have achieved operating profits for 71 consecutive years.

The Money Show’s Bruce Whitfield interviewed Comair CEO Erik Venter.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

The list [of SAA’s problems] might be too long to discuss here.

Erik Venter, Comair

Johannesburg is not a hub for Africa anymore.

Erik Venter, Comair

It’s almost impossible to resurrect SAA in a world that has moved on.

Erik Venter, Comair

It’s a nice, clean profit.

Erik Venter, Comair

We make R55 profit per ticket.

Erik Venter, Comair

Our fleet is so much more efficient than our competitors’.

Erik Venter, Comair

People are getting tired with SAA’s issues.

Erik Venter, Comair

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