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ACSA compared adversely with SAA but confidently awaits its World Cup ‘test’

4-Sep-2009

In Aug-09, Airports Company South Africa (ACSA) reported financial and traffic highlights for the 12 months ended 31-Mar-09. Passenger numbers are down as the recession began to set in and despite a large jump in non-aeronautical revenue generation, operating profit fell by 5.4% and pre-tax profit more than halved. ACSA’s performance has prompted many South Africans to query whether the state will have to bail it out, as it has had to do with other para-statal bodies, and if it will end up like failing national airline SAA. But for now it seems to be holding its own. [1238 words]

Unlock the following content in this report:

Subheadings:

  • Could ACSA be another SAA?
  • Excessive spend
  • Non-aero revenue gains are spread equally
  • 40 million passengers annually forecast for La Mercy but international airlines shun Durban
  • ACSA’s lights not going out just yet

Graphs and data:

  • ACSA financial highlights: 12 months ended 31-Mar-09 (ZAR thousand)
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