South African Airways Group falls into the red in FY2012

South African Airways Group (SAA) revenue up 6% - financial highlights for 12 months ended 31-Mar-2012:

• Revenue: ZAR23,861 million (USD2965 million), +5.5% year-on-year;
  • Passenger: ZAR15,907 million (USD1977 million), +3.0%;
  • Freight and mail: ZAR1388 million (USD173 million), +8.0%;
  • Technical services: ZAR522 million (USD64.9 million), -6.3%;
  • Voyager: ZAR419 million (USD52.1 million), +47.5%;
• Operating costs: ZAR25,176 million (USD3129 million), +16.5%;
  • Fuel: ZAR8302 million (USD1032 million), +36.4%;
  • Labour: ZAR4711 million (USD585 million), +6.7%;
• Operating profit (loss): (ZAR1315 million (USD163 million), compared to a profit of ZAR1006 million (USD125 million) in p-c-p;
  • SAA Technical: ZAR161 million (USD20.0 million), +303%;
• Net profit (loss): (ZAR32 million) (USD4.0 million), compared to a profit of ZAR646 million (USD80.3 million) in p-c-p;
• Passenger numbers: 8.1 million, +0.4%;
  • South African Airways: 6.5 million, -2.3%;
  • Mango: 1.6 million, +12.9%;
• Passenger load factor: 72%, +2 ppts;
• Passenger yield: ZAR0.69 (USD 8.57 cents), +1.5%;
• Revenue per ASK: ZAR0.57 (USD 7.08 cents), +3.6%;
• Costs per ASK: ZAR0.78 (USD 9.69 cents), +16.4%;
• Total assets: ZAR15,056 million (USD1871 million), +6.4%;
• Cash and cash equivalents: ZAR1536 million (USD191 million), -31.8%;
• Total liabilities: ZAR14,613 million (USD1816 million), +6.9%. [more - original PR]

*Based on the average conversion rate at USD1 = ZAR8.0472 for the period

South African Airways: "The Group will continue to focus on growing its core passenger and cargo business, with a particular focus on Africa while not ignoring the long-haul international market critical for feed/de-feed to regional and domestic routes. We are also focused on growing our business in the aircraft maintenance, repair and overhaul market, as well as the in-flight catering and retail travel markets, via our relevant subsidiaries." Source: Company statement, Nov-2012.