Comair down as strike continues

Comair's share price falls more than 3 percent by Friday, the third day of a strike by ground staff demanding higher wages.

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Johannesburg - South Africa's airline operator Comair's share price fell more than 3 percent by Friday, the third day of a strike by ground staff demanding higher wages.

Shares in Comair, a franchisee of British Airways and the owner of South African low-cost airline Kulula.com, declined by 3.1 percent to R3.10 ($0.2) by 1050 GMT.

The share price has fallen by more than 5 percent since Tuesday, after the United Association of South Africa (UASA) said its members were preparing to strike.

The union wants a 35 percent increase over three years, while Comair is offering a 22.5 percent increase over three years, the airline said on Tuesday.

Read also: Fedusa backs Comair strike

Both the company and the union were not immediately available for comment.

 

REUTERS