Mango posts record profits

IT’S been a good year for
Mango and Comair, with
both recording profits for the
2014 financial year.
Mango reported a nett
profit of R40m and a beforetax
profit of R56,1m for
the fiscal ending March
31, 2014, its highest-ever
profit, compared with a
before-tax profit of R36,9m
for the previous financial
year. Revenue increased
by 42% as a result of
capacity growth of 25,62%,
an average load factor of
82,35% and tightened yield
management.
Meanwhile, Comair
reported a 16% increase
in nett income from last
year to R265m, for the
period ending June 30,
2014. Turnover grew 17%
on improved yields and
an increase in passenger
numbers in one quarter.
“It has been a fantastic
year for Mango,” said ceo,
Nico Bezuidenhout. “The
narrative of our business
case, as set down in 2006,
continues to bear fruit as
Mango achieves its second
successive profitable fiscal
and sixth profitable full fiscal
out of seven completed.”
However, Nico cautioned:
“This year will see greater
challenges and increased
pressure on margins and
with a new market entrant
on the horizon, both load
factors and revenue across
the sector will be under
pressure.”
During the period in review,
Mango launched scheduled
twice-weekly JNB-Zanzibar
flights, thrice weekly
frequencies between JNB
and George, plus a fourth in
early 2014, and added two
B737-800s to its fleet.