Loading
14-Sep-2010 12:07 PM

South African Airways reports 45% surge in net profit in FY2010 despite fall in pax

South African Airways (SAA) reported a 44.5% year-on-year increase in net profit* to USD81.4 million for the 12 months ended 31-Mar-2010, attributable to a 25% decline in the average fuel price during the period (Bloomberg, 14-Sep-2010). The carrier stated the increase in profit was achieved despite a 2.4% decline in passenger numbers and a 14% slide in cargo revenue. SAA returned to profitability for the first time in three years in FY2009.

* Based on the conversion rate at USD1 = ZAR7.13940

Want More News Like This?

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