According to the company, the increase in revenue was attributed to a change of the company's airplanes from four Boeing 737-300s to 737-800s, which led to a 15 percent increase in capacity.
"The four new Boeing 737-800s that were introduced into the Kulula fleet during the comparative period, contributed for the full six months of the first half of the current financial year."
The increased capacity caused headline earnings per share to increase from
The airline decided to add to its fleet of airplanes by making pre-delivery payments for four Boeing 737-800s. The end of 2015 and 2016 will deliver these.
The current position of the rand in the foreign exchange market, which has shot up fuel price, is a major driver of the prices of tickets
“The continued devaluation of the [South African currency] has driven the rand price of fuel and dollar-based technical services to record highs. We therefore do not foresee early growth in market volumes as ticket prices will remain at the levels necessary to recover such escalating costs," the company stated.
Despite the increase in fuel price, the airline is confident it remains well placed for the 2014 fiscal year.
This will be however be dependent on
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