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Acsa hit by losses

Aug 22 2011 11:22 James Brent-Styan

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Johannesburg - The Airports Company SA (Acsa) on Monday reported a net loss of R220m for the 2011 financial year.

In 2010 Acsa made a profit of R901m. Its revenue grew 32% to R4.6bn in the 2011 year.

The results were the last by managing director Monhla Hlahla, who leaves the company at the end of September after 10 years at the helm.

Acsa chairperson Wayne van der Vent said Acsa executive team member Bongani Maseko has been appointed acting MD while a replacement is being sought for Hlahla.
 
Hlahla said the regulatory regime does not allow Acsa to be adequately renumerated for its assets. Acsa has been involved in a drawn-out disagreement with the regulator on tariff increases.

Hlahla said the aviation industry needs a "reliable, predictable" regulatory regime that would in future allow clarity on determining tariff increases.
acsa  |  tariff increases  |  aviation industry
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