Loading

SA Express returns to profit and plans to expand its regional network and fleet

Analysis

South Africa's SA Express has reported a net profit of ZAR650,000 (USD65,000) for the 2013 financial year, turning around a restated loss of ZAR365.9 million (USD36.7 million) in FY2012 driven by increased revenue and stable operating costs.

The result marks a return to profitability as the state-owned carrier and member of the South African Airways Group looks to expand its regional network over the next six months and strengthen its feeder support role for South African Airways as well as implement a fleet replacement programme to further reduce costs.

SA Express also reported a 91% reduction in its operating loss to ZAR25.1 million (USD2.5 million) in FY2013. SA Express CEO Inati Ntshanga said: "Though the business is making the right decisions and heading in the right direction, we cannot afford to be complacent as a lot still needs to be done to ensure that we champion a sustainable operational and financial performance."

While selected details of the financial results were presented at the airline's AGM on 25-Sep-2013, neither the full audited accounts nor the annual report have been made public.

Read More

This CAPA Analysis Report is 1,656 words.

You must log in to read the rest of this article.

Got an account? Log In

Create a CAPA Account

Get a taste of our expert analysis and research publications by signing up to CAPA Content Lite for free, or unlock full access with CAPA Membership.

InclusionsContent Lite UserCAPA Member
News
Non-Premium Analysis
Premium Analysis
Data Centre
Selected Research Publications

Want More Analysis Like This?

CAPA Membership provides access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More