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

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