South African police enter airliner in Cape Town

South African airline Comair posts earnings jump after settlement

JOHANNESBURG (Reuters) - South African airline Comair on Tuesday reported a jump in annual profit helped by a $78 million settlement in an anti-competition case with embattled South African Airways (SAA).

Its headline earnings per share (HEPS) rose to 197.2 cents from 69.5 cents per share for the year to June 30, Comair said in an updated trading statement.

HEPS strips out certain one-off items and is the main profit measure in South Africa.

In February South Africa's competition body ordered SAA to pay Comair 1.1 billion rand ($78 million) in a dispute that dates back more than a decade involving SAA's travel agent incentive schemes.

The firm said the affects of the settlement would be fully disclosed in financial results to be released on Tuesday.

Comair operates flights in southern Africa under a licence from British Airways.

(Reporting by Tanisha Heiberg; editing by Jason Neely)

2019-09-17 10:06:38

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