Comair’s bet on non-airline business pays off

COMAIR’S annual financial
results show a 54% increase
in profits to R297m and
a 28% increase in cash
generated by its operations,
with income generated
by its non-airline brands
constituting 20% of its
earnings.
Ceo, Erik Venter, says
the weak economy and
narrow profit margins in
the airline industry have
favoured the pursuit of
growth from Comair’s nonairline
businesses. This
approach has been rewarded
with strong performances
by the travel businesses,
including kulula holidays, the
Comair Training Centre, the
Slow lounges and the Food
Directions catering operation.
TNW understands that SAA
has six times the staff count
of Comair, while its fleet is
twice the size.