South African airports have nearly returned to pre-Covid passenger levels as Airports Company South Africa (Acsa) ramps up investment and operations ahead of the peak season following a period of significant financial recovery.
Based on the last highest point in 2019/20 before the pandemic, Acsa reports it recovered to 19.3-million passengers in the winter 2025/26 season, representing a 99% recovery in passenger traffic across domestic and international routes.
Its three largest airports also saw strong growth in departing passengers, with:
- OR Tambo handling 5.79-million, up 9%;
- Cape Town International 3.07- million, also up 9%; and
- King Shaka International 1.62-million, up 13%.
Acsa expects the busiest days of the peak season to see 132,473 departing passengers on December 12 (1,210 flights), 132,965 on December 19 (1,217 flights), and 132,275 on January 2 (1,205 flights), highlighting the need for co-ordinated operations to ensure smooth travel
Acsa expects the busiest days of the peak season to see 132,473 departing passengers on December 12 (1,210 flights), 132,965 on December 19 (1,217 flights), and 132,275 on January 2 (1,205 flights), highlighting the need for co-ordinated operations to ensure smooth travel.
In Acsa’s 2025 financial year, the state-owned aviation company, which manages South Africa’s nine principal airports, reported a pre-tax profit of R1.8bn and an after-tax profit of R1.1bn on revenue of R7.9bn. The company also recorded EBITDA (earnings before interest, taxes, depreciation and amortisation) of R2.9bn and declared a dividend of R310m for shareholders.
CEO Mpumi Mpofu reflected on these strong results, recognising the company’s post-Covid bounceback. “Everybody thinks, ‘Ah, what is that?’ It’s so long ago, but that for us was probably the worst nightmare,” she said, recalling the steep losses during the Covid years.
Mpofu noted significant losses of R2.5bn in 2020, R1.5bn the following year, and a R43m loss thereafter. However, she explained that the current profits, combined with earlier recovery, amount to “almost a R6bn turnaround altogether in terms of revenue and where we come from in the doldrum years of Covid”.
She said seasonal travel patterns remain the main driver, as Europeans typically seek to enjoy summer in South Africa during this period. She acknowledged, however, that “the G20 gave us additional wind beneath our wings”.
Beyond the heads of state summit held last month, numerous G20-related meetings and events held throughout the year drew visitors to South Africa, significantly boosting passenger traffic. Mpofu said traffic began increasing in October, even before the summit. “That’s why countries volunteer to host them, because, in effect, it has that very positive impact.”
She confirmed that while a detailed analysis with the department of tourism will quantify the exact impact of the summit, it was clear that the G20 contributed to higher international arrivals and a general uplift in tourism, reinforcing South Africa’s visibility as a destination.
Load factors have decreased to 75% from 77% last year, but according to Mpofu, the drop is a positive sign. With departing seats rising to 15.4-million from 13.8-million and aircraft landings increasing to 135,438 from 133,364, the lower load factor reflects airline confidence as carriers expand their fleets and add capacity, she said.
As soon as passengers get a sense that [airlines] are not overbooked and that there are seats available, they respond by travelling more.
— Mpumi Mpofu, Acsa CEO
“As soon as passengers get a sense that [airlines] are not overbooked and that there are seats available, they respond by travelling more,” she said, noting that the 2% decrease was encouraging for Acsa, as it stems from the rise in departing seats. “Yes, we can do more, and passengers are going to respond effectively to that.”
Additionally, Acsa’s total assets currently sit at around R32bn, which Mpofu says is expected to grow as the company invests in capital projects. The company’s operating expenditure for the year was R4.9bn, while capital expenditure reached R861m.
On Acsa’s capital expenditure programme, Mpofu said R21.7bn was planned over the coming years, with 72% dedicated to the refurbishment of airports and 15% to increasing airport capacity.
Congested airports will be the focus of infrastructure upgrades, including Cape Town International, George, Chief Dawid Stuurman and King Shaka International airports, while efficiency and technology improvements will account for 14% of the spend.
As part of its technological advancements, Acsa’s mobile app now lets passengers track their bags at key points in their journey, providing updates at check-in, after passing through security, and when the bag is loaded into the aircraft container.
Noting that the company has already spent R1.5bn in the first two years of the budget, Mpofu said: “It’s really to give comfort [to] a lot of South Africans who are rightfully impatient in waiting to see this infrastructure programme roll out.”
Acsa’s non-aeronautical revenue continued to show strong growth in 2025. Retail generated R1.2bn, up 10% from 2024, while property rentals reached R1bn, up 13%.
Other commercial areas, including parking, car hire, hotel operations, advertising and additional retail activities, also recorded notable increases, reflecting the company’s diversified revenue streams beyond aeronautical services.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.