Boeing projects 700 aircraft for Africa; South African Airways revenue down -15%
The African economy is projected to grow 4.8% in 2010 following 2.9% growth in 2009. West Africa shows up as the strongest region with foreign interest in petroleum development. Boeing's forecast calls for the delivery of more than 700 aircraft with a value of approximately USD80 billion for the African market over the next 20 years.
Unlisted South African Airways reports (13-Sep-2010) the following financial updates for the 12 months ended 31-Mar-2010:
- Revenue: USD3,124 million. -15% year-on-year;
- Operating costs: USD2,941 million, -13.9%;
- Profit before tax: USD83.5 million, +40.6%;
- Net profit: USD81.4 million, +45%;
- Passenger numbers: 6.7 million, -2.4%;
- Domestic: n/a, -6%;
- International: n/a, -5%;
- Regional: n/a, +9%;
- Cargo volume: 119,000 tonnes, -14%;
- On-time performance: 85%;
- Operating cash flow: USD238.1 million, compared with a negative cash flow of USD252.1 million in p-c-p.
See related CAPA profile: Financial Results
Selected African and Middle Eastern airlines share price movements (% change): 21-Sep-2010