Astonishing results from SAA

KHAYA Ngqula, president and ceo of SAA, announced yesterday that in the year ending March 2005, the airline had made a nett profit of R966m compared with a loss of R8,6bn the year before. Before the packed audience of SAA staff, he said a team had been formed to complete the separation of SAA from Transnet within nine months. Despite a 40% increase in the price of fuel the airline managed to hold energy costs to a 18,6% increase and costs overall to only a 1,9% increase. This combined with a 5,5% increase in passenger numbers and a 6,8% increase in revenue played a large role in the reversal of its recent fortunes. (David Marsh)