SAA has reported a second consecutive year of profitability since exiting business rescue, with the airline recording a R30 million nett profit and the SAA Group a R155 million nett profit for the financial year ended March 31, 2025.
The audited results were announced at SAA’s AGM in Johannesburg on February 6. During the AGM, SAA’s audited financial results for FY2024/25 were received and accepted by the Shareholder Representative and Minister of Transport, Barbara Creecy.
“The shareholder congratulates SAA for reaching this important milestone, which includes both a modest nett profit and finalising the last of five outstanding audits,” said Creecy.
“The shareholder will continue to support SAA’s stabilisation and growth. Going forward, we must ensure disciplined implementation of our approved plans, sound governance, operational performance, and a sustainable operating profit.”
SAA generated revenue of R8,8 billion, a 35,89% year-on-year increase on the R6,5 billion recorded in the previous financial year.
SAA’s cash and cash equivalents position remained strong, at R1,9 million at the end of FY2024/25. The airline reported no interest-bearing borrowings at year-end and R6,6 million in equity.
Fleet and network expansion
During 2024/25, the airline received approval to increase its fleet to 21 aircraft. By the end of the financial year, 14 of these aircraft were in service, serving 16 destinations. Currently, the airline flies 19 aircraft.
SAA has rebuilt its network to include a diversified portfolio of 17 routes. In April 2024, it resumed flights to Perth, Australia. It also launched international routes to Lubumbashi and Dar es Salaam.
“These 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,” said SAA CEO, John Lamola.
Healthy audits to come
Sedzani Faith Mudau, Chairperson of the SAA Board, said the board was committed to strengthening governance and reinforcing public trust in the airline.
“Through the implementation of its Integrated Audit Health Plan, the airline will work to improve audit outcomes and secure long-term financial sustainability. In doing so, we aim to ensure that South Africans continue to place their trust and confidence in their national carrier,” said Mudau.
