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.
Thursday, September 5, 2013
Air Seychelles (HM) has announced a strong second quarter (Q2) and half-year financial performance, reflecting continued solid growth and success in its turnaround strategy. Overall, during the quarter, the Seychellois national carrier posted total revenues of USD26.03 million (up from USD10.87million in 2012), a significant increase of 139%. Total revenues for the first half of 2013 reached USD42.05million (2012: USD18.76million), up by 124%.
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.
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 10, 2013
■ SOUTH AFRICA: Comair Ltd forecasts 20% rise in earnings for this year as fastjet may face more launch obstacles.
South African aviation group, Comair Ltd, the parent company of both kulula.com (MN) and its British Airways-franchise, BA Comair, says it expects its headline earnings and earnings per share for the first nine months of the year to June 2013 to be over 20% higher than last year, but did not, however, quantify the extent of its results.
■ EGYPT: Egyptair's losses to narrow by 57% during this financial year; EHCAAN's profits to rise 15% - El-Maadawy.
Egyptian Minister of Civil Aviation, Engineer Wael El-Maadawy, has announced that Egyptian national carrier, EgyptAir (MS), is expected to see an improvement in its business climate with losses for the current 2012/13 fiscal year decreasing 57% compared to last year. Additionally, the Egyptian Holding Company for Airports and Air Navigation (EHCAAN) is expected to see a 15% rise in its profits on the back of the increased use of Egyptian airports as transit points.
Tuesday, May 21, 2013
Following a record USD50million (MAD499million) net loss posted in 2011 which necessitated a USD193million capital injection by the Moroccan government, Royal Air Maroc (AT), says it has generated an operating profit of USD83million (MAD718million) for its most recent 2012 Financial Year with turnover for the year rising 7% to USD1.6billion (EUR1.25billion).
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 10, 2013
■ SEYCHELLES: One year on from Etihad tie up deal, Air Seychelles posts first profit (unofficially).
One year on from when Abu Dhabi-based carrier, Etihad Airways (EY), signed a Memorandum of Understanding to acquire a 40 per cent stake in then struggling Air Seychelles (HM), the Seychellois airline has unofficially posted a USD1million profit.
Monday, November 12, 2012
Air Arabia Group, the largest low-cost carrier (LCC) in the Middle East and North Africa, today announced a net profit of USD61.5million (AED226 million) for its third quarter (Q3) of 2012, an increase of 126% as compared to USD27.2million (AED100 million) posted in the corresponding period for 2011.
Friday, November 9, 2012
In a dramatic change of its fortunes since posting a Q1 loss of EUR27million earlier in the year, Réunion-based French carrier Air Austral (UU) yesterday announced a profit of USD7.35million (EUR5.78million) for Q3 of its 2012 Financial Year, an improvement of USD9.89million (EUR7.78million) on its loss of USD2.54million (EUR2.0million) for the same period last year.
Wednesday, October 10, 2012
Air Seychelles (HM) has announced Q3 revenues of USD$13.8 million, up 23% on Q2, as the airline's restructuring programme, initiated in February of this year, took effect in the drive towards profitability for 2012. The growth in revenues was led by a 51% quarter-on-quarter increase in passengers, up from 53,066 to 79,887, as seat factors rose from 43% to 60%. Air Seychelles’ management team is confident that the airline will achieve its target of profitability in 2012, marking a major turnaround after several years of heavy losses.
Thursday, October 4, 2012
Tanzanian private carrier Precision Air (PW) yesterday presented its Ernst & Young audited report for the Financial Year 2011/2012 to shareholders, marking the airline's first annual general meeting since the company floated its shares in an initial public offering (IPO) on the Dar es Salaam Stock Exchange (DSE) in November of last year.
Thursday, September 13, 2012
■ SOUTH AFRICA: Airports Company South Africa bounces back with a USD22million profit for FY 2011/2012.
After a heavy loss of USD26.8million during the 2010/2011 Financial Year, The Airports Company South Africa (ACSA) announced yesterday that it had made a profit of USD22million for the 2011/2012 Financial Year, though it is unlikely that any South African airlines will be joining in the celebrations, as the main factor behind ACSA's return to profitability - a 70% hike in its tariffs - is one of the reasons why 1Time is in Business Rescue and Comair Limited posted no dividend for the same Financial Year.
Wednesday, September 12, 2012
South Africa's Comair Ltd, the parent company of British Airways (Comair) (BA) and LCC Kulula (MN) today reported that it would not issue a dividend despite seeing a 16% growth in its revenue from USD440million in June 2011, to USD510million for the year ending June 30, 2012.
Monday, June 11, 2012
Tanzanian carrier Precision Air (PW) over the weekend announced that its planned new routes to Harare, Zimbabwe and Lilongwe, Malawi, would only begin "in August this year" instead of early July as originally planned as the airline intends to await the arrival of more aircraft prior to servicing the new routes.
Wednesday, May 9, 2012
Tunisair's (TU) results for the first quarter of 2012 shown a remarkable rebound from the same time last year when events of The Arab Spring caused considerable disruptions to many North African and Arab carriers, some of whom, are still reeling.