SA Express (XZ) has reported a small net profit of ZAR650'000 (USD64'930) on the back of a 14% rise in revenue for its 2012/13 Financial Year, airline CEO Inati Ntshanga announced at the airline's AGM on Wednesday, September 25, in Johannesburg. Turnover also rose by ZAR270million, from ZARR2.021billion in 2012 to ZAR2.295billion in 2013.
Friday, September 27, 2013
Wednesday, September 11, 2013
Comair Ltd has announced a significant improvement in its profitability for the 12-month period ending 30 June 2013. Revenue grew by 29% to ZAR5.38billion (USD537.46million) from ZAR4.16billion (USD415.96million) in 2012. As such, the airline declared a headline profit of ZAR231million (USD23.09million), a marked improvement on that of 2012 which totalled ZAR18 million.
Friday, September 6, 2013
Tanzania's Precision Air (PW) has confirmed sustaining a hefty loss of TZS30.4billion (USD18.84million) for its most recent 2012/13 Financial Year ended March 31, 2013. In their statement, the the Board of Directors of Precision Air Services Plc said that while total revenues had grown by 8.2% on the previous years figures to TZS176.4billion (USD109.3million), the loss was attributable to rising fuel, maintenance and equipment costs, rising personnel expenditure and an unfavourable USD exchange rate also taking its toll.
Tuesday, September 3, 2013
■ SOUTH AFRICA: ACSA posts $97million profit for latest Financial Year despite drop in pax, traffic numbers.
The Airports Company South Africa (ACSA) has announced a ZAR991million (USD96.97million) profit, buoyed by a 16% rise in its revenue for its 2012/13 Financial Year to ZAR6.66billion (USD652.28million). This comes as seven out of the country's nine major airports recorded a slump in passenger traffic on the previous year's figures with aircraft landings also declining by 6% to 271'250, down from 272'320 in 2012.
Monday, September 2, 2013
the grounding of one of its five B787-8s, (MSN 34744 | ET-AOP), at London Heathrow following a fire on-board, Ethiopian Airlines (ET) plans to add eight more of the aircraft to its fleet as part of its long term growth strategy dubbed Vision 2025.
Friday, August 16, 2013
■ TANZANIA: Precision Air to post loss during latest Financial Year; asks government for $32mln in funding.
Tanzania's Precision Air (PW) will this year post a heavy loss, the airline’s board chairman, Mr Michael Shirima, has announced. In addition, the airline has reportedly asked the government, among various other undisclosed financial institutions, for TZS51.2billion (USD32million) in funding to help cover bank loans and instalments for its TZS218billion (USD136million) order with ATR which includes four ATR42-600s and one ATR72-600.
Monday, July 29, 2013
Mauritian national carrier, Air Mauritius (MK), held its Annual Meeting of shareholders at the Grand Baie International Conference Centre in Port Louis on July 25, 2013 under the chairmanship of Mr. Appalsamy (Dass) Thomas.
Thursday, July 25, 2013
■ SOUTH AFRICA: Denel SOC posts strong $7.3million net profit for 2012/13 Financial Year as revenue grows 10%.
South African state owned aerospace and defence technology conglomerate, Denel SOC Ltd, has posted a net profit of USD7.33million (ZAR71million) for its most recent 2012/13 financial year, buoyed by a 10% increase in revenue - thanks in part to an increase in demand for its products in Africa, the Middle East, Asia-Pacific and South America - a restructuring of its debt and a reduction in its expenditure.
Friday, July 5, 2013
Ethiopian Airlines (ET) has taken delivery of its sixth Boeing 777-200LR (MSN 43814 | ET-AQL) at a ceremony held at Addis Ababa Bole International Airport on July 2. The added aircraft comes at a time when Ethiopian is expecting to post very strong numbers for this year, in spite of the 787 Grounding debacle.
Monday, June 17, 2013
Kenya Airways (KQ) has posted a net loss of USD92million (KES7.86billion) for its 2012/13 Financial Year, compared with a profit of USD19.39million (KES1.66 billion) a year earlier, Chief Financial Officer Alex Mbugua has announced. Losses were blamed on "harsh economic and geopolitical conditions" coupled with a global economic slowdown and volatile global oil prices. The company last reported a loss in the fiscal year ended March 2009.
■ MAURITIUS: Despite posting a $3million loss for 2012/13, Air Mauritius confident of profit in 2013/14.
Air Mauritius (MK) has reported a pre-tax loss of USD3.07million (EUR2.6million) for its 2012/13 Financial Year, on the back of oil prices that have remained high, averaging USD112 per barrel, and the global economic situation that has further deteriorated as the recession in Europe has proven to be deeper than expected. However, the result is an improvement on its 2011/12 financial results when the Indian Ocean island carrier posted a loss of USD38.96million (EUR29.2million) overall.
Tuesday, June 11, 2013
La Réunion's Air Austral (UU) has announced a turnaround in its fortunes, roughly one year on from the appointment of Mr Marie-Joseph Malé as new CEO of the company. For its 2012/13 Financial Year which ended on March 31, the carrier posted losses of USD35.8million (EUR27.06million), an improvement of 40% on last year's numbers (USD50.8million loss).
Thursday, April 25, 2013
Kenya Airways (KQ) has released its Operations Report for the Fourth Quarter of 2012/2013; January 1 to 31st March 2013.
Tuesday, April 9, 2013
► ETHIOPIA: Ethiopian revenue on course for 2013 target as Ministry prepares final air transport liberalization law.
Ethiopian Airlines (ET) has, in the first 8 months of its 2012/2013 Financial Year, generated USD1.35billion (ETB25.1billion) in revenue the Ethiopian Minister of Transport, Diriba Kuma has said.
Monday, March 18, 2013
Following three years of losses, Air Seychelles (HM), the national airline of the Seychelles, today officially reported a net profit of USD1million for its 2012/2013 Financial Year. The positive result comes just 12 months after Abu Dhabi carrier Etihad Airways (EY) acquired a 40 per cent stake in the airline and was awarded a five year management contract. The result beats Etihad's original expectations in which the Gulf carrier projected Air Seychelles to turn a profit albeit within the first 24 months of operation.
Sunday, March 17, 2013
Egypt's Minister of Civil Aviation, Wael al-Maddawy, says Egyptian national carrier, Egyptair (MS), has posted continuous losses of USD880million (EGP6billion) since the 2011 Egyptian revolution which lead to the fall of then president, Hosni Mubarak, and his regime.
Thursday, February 14, 2013
■ MAURITIUS: Viljoen's leadership beginning to pay off as Air Mauritius continues to improve, but not out of woods yet.
Mauritian national carrier, Air Mauritius (MK), is beginning to reap the rewards of its envisioned 7 Step Recovery Plan amid reports that it has posted a USD9.6million (EUR6.4million) profit for Q3 (October-December) of its 2012/2013 Financial Year. However, overall results combined for Q1, Q2, Q3 show the carrier still made a substantive pre-tax loss of USD3.33million (EUR2.5 million).
South Africa's Comair Ltd, the owners of LCC Kulula (MN) the BA Comair franchise, has posted an after-tax profit of USD8.97million (ZAR79million) for H2 (July - December 2012) as revenue influx grew 20% on the same period in 2011.
Monday, January 28, 2013
Kenya Airways (KQ) today released its Operations Report for the Third Quarter of 2012; October to 31st December 2012.
Sunday, January 20, 2013
■ KENYA: Hunt on for new Kenya Airways' Commercial Director after Mohan Chandra's contract is not renewed.
Kenya Airways (KQ) has appointed its Head of Network Planning, Jimmy Kebati, as its interim Commercial Director, after previous director, Mohan Chandra's contract was not renewed upon its expiration on 18 January.