ACSA's parlous state; prepared to lose airport investments
In a recent CAPA report it was revealed that international services had restarted in South Africa in Oct-2020, and that the virus infection figures were falling from a very high total.
However, the state airport operator is under great pressure as desperate rescue attempts continue to save South African Airways, and with other airlines in difficulties. ACSA (Airports Company South Africa) has historical investments in India, and has had for more than 15 years, and more recently has investments in Brazil.
ACSA wants to try to spend its way out of its malaise with commercial investments at its airports and probably sees the offloading of equity in the two foreign airports as a way to help capitalise that. But is that a case of short term thinking?
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