The South African Airways (SAA) group made a net profit of R155m in the year ended March 31 2025 and the SAA airline a R30m profit for the same period.
This marked the second year of profit for the airline since it exited business rescue in April 2021. The results were announced at the SAA AGM on Friday.
SAA generated revenue of R8.8bn, a 35.89% year-on-year increase on the R6.5bn generated in the 2023/24 financial year.
SAA’s cash and cash equivalents position stood at R1.9bn at the end of the reporting period. The airline had no interest-bearing borrowings at year-end and R6.6bn in equity.
During 2024/25, approval was granted to SAA to increase its fleet to 21 aircraft. By the end of the 2024/25 financial year, 14 of these aircraft were in service, serving 16 destinations. Currently, the airline flies 19 aircraft.
SAA has rebuilt its network to 17 routes. In April 2024, it resumed flights to Perth, Australia. It also launched international routes to Lubumbashi and Dar es Salaam.
SAA group CEO Prof John Lamola said the latest results “demonstrate that despite numerous challenges, SAA is on course for a bright future”.
“We have entered a period of structured and strategic stabilisation of the business, focusing on institutionalising robust governance and agile management systems. We are continuing to implement plans on aircraft fleet modernisation and route network expansion aimed at the elevation of customer experience,” he said.
Chairperson of the SAA board Sedzani Mudau said the board was committed to strengthening governance and reinforcing public trust in SAA. It would also work to improve audit outcomes and secure the airline’s long-term financial sustainability.
Transport minister Barbara Creecy said that the government, as the shareholder of SAA, would continue to support its stabilisation and growth.
“Going forward, we must ensure disciplined implementation of our approved plans, sound governance, operational performance, and a sustainable operating profit,” she said.
Business Day
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