Profits plummet at state-owned Airports Company South Africa (Acsa)

A general view of the OR Tambo International Airport. Picture: Facebook.com.

When you fly from Johannesburg to Cape Town you pay Acsa R87… When you fly internationally you pay R350…

Bongani Maseko, Acsa

State-owned Airports Company South Africa (Acsa) on Thursday announced a drop in profits of 58% to R843 million for the year to end-March.

Revenue fell 20% to R6.925 billion.

Acsa identified a 35% reduction in aeronautical fees as a major reason for its poor results.

Domestic traffic volumes grew by 1% while international flights were up 3%.

Acsa lost R563 million at the Guarulhos International Airport in Brazil, of which it’s a part-owner.

The Money Show’s Bruce Whitfield interviewed Airports Company South Africa CEO Bongani Maseko.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

Our passengers are really excited about the seamless experience [checking in, boarding, etc.]…

Bongani Maseko, Acsa

We have a very good relationship with our Home Affairs colleagues… Tourism accounts for 9.5% of our GDP… it’s critically imperative that we streamline our tourism offering… We need more people to come into South Africa…

Bongani Maseko, Acsa

We’re in India, Brazil and Ghana… those ancillary revenues must support what we’re doing to lessen the burden the passengers face...

Bongani Maseko, Acsa

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
Naspers plans to sell shares in Prosus - will it decrease the Tencent gap?

Naspers plans to sell shares in Prosus - will it decrease the Tencent gap?

Naspers plans to sell about 22 million shares in Prosus - will it decrease the Tencent gap?

How is 'steely' Pravin Gordhan coping under pressure from detractors?

How is 'steely' Pravin Gordhan coping under pressure from detractors?

Pravin Gordhan, the minister of public enterprises, wants to be left alone to do his job.

When insurance claims go wrong

When insurance claims go wrong

Be mindful of what you're disclosing at the time you take out a policy.

Davos 2020:  How well did Team South Africa pitch today?

Davos 2020: How well did Team South Africa pitch today?

Day two of Davos, where business heavyweights are attending the annual meeting of the World Economic Forum.

'In SA, if you’re born rich you stay rich and if you’re born poor you stay poor'

'In SA, if you’re born rich you stay rich and if you’re born poor you stay poor'

Where you’re born – and who your parents are – largely determines your destiny in South Africa, according to the WEF.

'Scrubbing' the atmosphere and other high-tech climate friendly innovations

'Scrubbing' the atmosphere and other high-tech climate friendly innovations

Data ssystems use a great deal of energy and tech providers must start reducing emissions.

Popular articles
When insurance claims go wrong

When insurance claims go wrong

Be mindful of what you're disclosing at the time you take out a policy.

'Scrubbing' the atmosphere and other high-tech climate friendly innovations

'Scrubbing' the atmosphere and other high-tech climate friendly innovations

Data ssystems use a great deal of energy and tech providers must start reducing emissions.

How is 'steely' Pravin Gordhan coping under pressure from detractors?

How is 'steely' Pravin Gordhan coping under pressure from detractors?

Pravin Gordhan, the minister of public enterprises, wants to be left alone to do his job.

Naspers plans to sell shares in Prosus - will it decrease the Tencent gap?

Naspers plans to sell shares in Prosus - will it decrease the Tencent gap?

Naspers plans to sell about 22 million shares in Prosus - will it decrease the Tencent gap?

Davos 2020:  How well did Team South Africa pitch today?

Davos 2020: How well did Team South Africa pitch today?

Day two of Davos, where business heavyweights are attending the annual meeting of the World Economic Forum.

Callers detail how Northview High School learner died at Nyathi lodge in 1999

Callers detail how Northview High School learner died at Nyathi lodge in 1999

Lesego and Boitumelo detail in graphic detail how their schoolmate Portia died at the lodge while on a school trip.

Telkom meets unions over mass retrenchments

Telkom meets unions over mass retrenchments

Solidarity strategic specialist Morné Malan says the process is still continuing and very little progress has been made.

Two primary school pupils dead after truck crashes into wall

Two primary school pupils dead after truck crashes into wall

Officials said that a truck delivering food items at the school crashed into the wall.

Eskom appoints critic Sikonathi Mantshantsha as new spokesperson

Eskom appoints critic Sikonathi Mantshantsha as new spokesperson

Mantshantsha replaced Khulu Phasiwe who resigned in April last year from the embattled power utility.

Western Cape top judge accuses her boss John Hlope of assault, misconduct

Western Cape top judge accuses her boss John Hlope of assault, misconduct

EWN reporter Jason Felix gives insight on what this public spat between the two officials is all about.