Business News 11.1.2017 11:54 am

Rand recovery boosts Comair

Comair added that all loss-making open oil hedges had matured by the end of 2015.

Comair on Wednesday pointed to the strengthening of the rand against the US dollar as it said it expected an increase of at least 20 percent in headline earnings per share for the six months to the end of December 2016.

The airline said in a statement to shareholders that the strengthening of the rand had resulted in the reversal of unrealised translation losses on a dollar-denominated aircraft loan amounting to R98 million.

Comair added that all loss-making open oil hedges had matured by December 31 2015 and no further hedges had been entered into.

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