This just published. Note that they are reviewing their "Long Haul fleet strategy due to declining yields".


July 6, 2005
South African Airways confirmed on Wednesday that it had posted a net profit of ZAR966 million rand (USD$141.2 million) in 2004/05 compared to a ZAR8.6 billion (USD$1.26 billion) loss the previous period.

The results had been partially announced by parent company Transnet when it released the group's results for the year to end-March on Monday. The flag carrier's shock loss in 2003/04 was triggered by a nearly ZAR6 billion (USD$877 million) hedge book loss and impairment charges on aircraft.

The hedge book was closed during the year under review. SAA Chief Executive Officer Khaya Ngqula said the airline was on track to cut costs by ZAR1.6 billion (USD$233.8 million) by 2007.

"In the year under review our operational costs have increased much slower than our revenue -- a simple formula we intend to pursue going into the future," said Ngqula in a statement.

He said the airline was reviewing its business model for the domestic market, following competition from budget carriers charging very low prices. It was also looking at its long-haul fleet strategy because of declining yields.

SAA is to be removed from the Transnet stable by March 31, 2006 -- operating as a separate company and reporting directly to the Public Enterprises Minister.

(Reuters)

Many cattle companies make a profit!

They have seen the last of me!!!!!!!!!!!

quote:

Originally posted by gunny:
They have seen the last of me!!!!!!!!!!!

ME TOO!!!!!

I will be very curious to see what 2005 and 2006 bring. I have talked to several outfitters in Namibia and they say their business has been growing by leaps and bounds. Will the RSA outfitters be able to say the same thing? While the seating on the airbus is tolerable by those like me (average to small people), anyone over six feet tall probably suffers. Compound this with the hassle of the South African Police re. gun permits and I do pity those in the outfitting business. I don't pity SAA one bit, though.

As I have posted in the past, and will again state that I will NEVER fly with SAA again. Being6'2" tall I can not get anything close to being comfortable on those kid size seats. Even though it was posted that they will take out some rows of seats, for more leg room, it is too little too late for me. Also, I can not see the extra $2,000 USD they want for an upgraded seat. When I go back there again it will be through Germany. If I have to pay for an upgraede seat the money will still not go to SAA.