Johannesburg - Low-cost airline Comair could receive a R1.16 billion windfall after the South Gauteng High Court on Wednesday ruled in its favour in the anti-competitive behaviour case against rival South African Airways (SAA).Comair said it approached the court about the anti-competitive behaviour 14 years ago. It said it would need time to study the judgment, and cautioned its shareholders that the matter was still subject to appeal by both parties.
“In terms of the judgment Comair was awarded R554 million, plus interest at 15.5 percent thereon which will be capped at the value of the award plus costs amounting to approximately R1.16 billion in total” the company said in a statement.
Comair had accused the national carrier of having introduced an anti-competitive travel agent scheme that was designed to keep travel agents loyal to SAA.
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It said the scheme ran from 2001 to about 2006. The judgment came a day after Comair reported profits of R199m for the six months to the end of December and recorded cash in hand of R948 million.
SAA spokesperson Tlali Tlali said the airline’s lawyers were still studying the judgment.
Meanwhile, Comair chief executive Erik Venter has said the airline would submit a proposal to Botswana to take over the nation’s carrier.
Comair, which operates British Airways in Southern Africa and kulula.com, has vied for Air Botswana before, but in 2008 pulled out of a bidding round that failed to attract successful suitors.
Botswana put its national carrier up for tender again on Monday as part of a strategy to privatise loss-making state companies.
“We’ll make a submission and see if they are interested in our approach,” Venter told Reuters. Botswana’s transport department has said it was open to proposals on various forms of privatisation, including joint ventures, ownership, franchising and concessions.