South African Airways at a loss

High fuel costs and competition from low-cost carriers dragged South African Airways into an operating loss of R603million in the financial year to March, former parent company Transnet said yesterday. The airline, which has been transferred from Transnet to government, increased revenue by 6,8percent to R20,6billion, and net operating expenses rose 12,8percent. - Reuters

High fuel costs and competition from low-cost carriers dragged South African Airways into an operating loss of R603million in the financial year to March, former parent company Transnet said yesterday. The airline, which has been transferred from Transnet to government, increased revenue by 6,8percent to R20,6billion, and net operating expenses rose 12,8percent. - Reuters

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