Low-cost airline, Kulula, operated by Comair Limited, has announced the arrival of the first of seven new Next-Generation Boeing 737-800s.

By end of the year, the airline will have three new B737-800s in operation in addition to its five leased B737-800s.

Commenting on its substantial investment, CEO of Comair Limited, Erik Venter, said: “The new 737-800s use 18% less fuel per seat than the aircraft we are replacing, thereby saving two million litres of fuel per aircraft per year for the equivalent total seats. Our decision to purchase these highly fuel-efficient aircraft was not taken lightly and is a critical component in managing our exposure to the volatile fuel price.”

Venter added that the new aircraft would also require significantly less maintenance than the existing fleet, allowing for higher utilisation and lower operating costs.

 “The sustainability of an airline is driven by its ability to generate sufficient profits to allow for reinvestment in its infrastructure and assets. The ownership of aircraft as opposed to leasing thereof will significantly contribute to our profit/reinvestment cycle, and Comair’s history of more than 60 years of operating profitably can largely be ascribed to us owning at least 50% of our fleet. While this does add to the long-term debt on Comair's balance sheet, it is not onerous when compared with the comparative lease obligations on the aircraft that are being replaced."

“We are managing our assets very actively and will continue to do so – an example of this is that we decided to pre-sell the fourth aircraft, due for delivery in December, to an aircraft lease company due to pressure brought on by the poor trading conditions in the first half of the 2012 financial year,”said Venter.