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Johannesburg - State-owned South African Airways (SAA) said on Wednesday it had increased its full-year revenue by 9% to R22.5bn.
The airline posted a net profit of R123m for the year to end-March, which excluded restructuring costs of R1.34bn.
"It's an excellent achievement, but we still have some way to go to ensure that SAA is sustainably profitable by March 2009," the company said in a statement.
SAA said rising oil prices were a huge challenge and a threat to achieving its restructuring profit. It added it was talking to the South African government to have the airline recapitalised.