The Secret to 72 Years of Profit at South Africa’s Comair
Photo Credit: Comair SLOW lounge at O.R. Tambo International Airport near Johannesburg, South Africa. The lounges are big money makers. Comair
Skift Take
Do airlines need non-airline businesses to survive? If one company’s unbroken 72-year run of profits is anything to go by, the answer is a resounding yes.
For the past 72 years — all of its existence — South African aviation company Comair has posted a profit, a remarkable run in a fickle industry.
Founded in 1946, Comair is the only aviation company listed on the Johannesburg Stock Exchange, the largest exchange in Africa. In 2018, Comair posted record earnings, with profits of $23.5-million.
The company is perhaps best known as a franchise partner for British Airways in Southern Africa. It jets, which wear the British Airways livery, fly among the region's major cities. In addition, Comair also operates the low-cost carrier kulula, based in Johannesburg.
But what’s more interesting is that an increasing slice of the company's pre-tax profits – 25 percent, in 2018 – are coming from non-flying sources. It all begs the question: Do airlines
