A stronger rand has contributed to a 125% to 145% year-on-year increase in Comair’s earnings per share (EPS) for the six months ended December 31.
Comair expects to report EPS of 40c to 44c for the interim period.
The company said the stronger rand had resulted in the reversal of unrealised translation losses on the dollar-denominated aircraft loan of R98-million, which would also boost headline earnings a share by between 213% and
233%, to between 41c and 44c apiece.
Further, all lossmaking open oil hedges had matured by December 31, 2015, with no further hedges having been entered into.
The results for the period under review are expected to be released on February 14.