Comair Orders 8 Boeing 737 Max

Comair Orders 8 Boeing 737 Max

Comair Limited has ordered eight Boeing 737 MAX 8 airplanes as per the official statement released by CEO Erik Venter. The order has been valued at $830 million. Comair has become the first African airline to upgrade its fleet with 737 Max.

The order was booked by Boeing in December 2013. Comair will get the delivery of four planes by 2019 and 4 more by 2021.

Comair stock was trading with gain of nearly 3 percent in Johannesburg. The stock has given more than 35% returns to investors in 2014. Comair increased fares by 17 per cent last year.

Johannesburg-based Comair has improved its margins by reducing fuel consumption by 28 percent. The company aims to cut its fuel expenses further. Venter informed that the company will fund the fleet expansion through funding from domestic and international banks.

Comair has witnessed stable rise in business during the past few years. The company connects Africa to many top destinations. The company has another order of 4 Next Generation 737-800 with Boeing. This order will be delivered by Boeing in 2015 and 2016.

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