• Racial redress

    The next adult generation is at risk of being polarised on the basis of skin colour, says Solly Moeng.

  • To do list

    Keep separate lists to ensure your to-dos don't get cluttered and gain stress-free productivity, Ian Mann.

  • Clueless leaders

    Zim's leaders are clueless about managing the economy or leading the nation, says Malcom Sharara.

All data is delayed
Loading...
See More

SAA reports 77% profit jump

Sep 08 2011 16:54
Sapa
Johannesburg - South African Airways (SAA) made a net profit of R782m in the 2010/2011 financial year, it announced on Thursday.

This was a 77% increase from last year's R442m.

"SAA's financial position and the state of the business continue to show significant improvement," board chairperson Cheryl Carolus said in a statement.

"This financial performance is an encouraging response to the strategic objective to become a fully sustainable business over the next three years... and positioning SAA to compete successfully in the global aviation market in 10 years."

Group operating profit rose by 66% to R807m from the previous year.

Turnover, consisting largely of passenger revenue, increased from R16.9bn to R18bn.

Operating costs rose by 5%.

Public Enterprises Minister Malusi Gigaba said the airline, as a state-owned entity, was mandated to grow as a business while maintaining its role in the country's development.

"It is crucial that SAA continues to support matters of relevance from a shareholder perspective and enhance the state's policy objectives, such as the airlift strategy which seeks to regulate air transport... and the employment creation objectives."

cheryl carolus  |  profit  |  saa  |  malusi gigaba

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
17 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Labour’s call for a cap on salary of high earners is?

Previous results · Suggest a vote

Loading...