Faced with challenging market conditions in the first half of the 2016 financial year, Comair has said it will be playing it safe for the remainder of the year, focusing on retaining its market share.

The airline published its results for the interim period leading up to December 2015, reporting that revenue decreased by 5% due to a 10% decline in average yield. Comair suffered losses from its fuel hedges, which matured at the end of last year. Another major stumbling block for the airline was that it had to revalue a dollar-denominated loan of US$27 million (€24 million) on one of its aircraft, thereby negatively affecting profits. The kulula brand, on the other hand, has suffered from pressure as a result of increased competition and excess capacity in the market.

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For the upcoming year, Finance Director, Kirsten King, says Comair will continue to play it safe with no bold moves. “What we’re doing now is maintaining market share in a difficult climate, and we’ll continue to do so as yields will stay depressed for some time still.”