Africa-Press – South-Africa. South African Airways (SAA) has reported a R155 million profit for the year ended 31 March 2025, with the results announced five months after the deadline.
The broader SAA Group recorded a net profit of R155 million, while SAA’s airline recorded a profit of R30 million.
The results were announced at the SAA Annual General Meeting today, 6 February 2026, where the state-owned company shared them with Minister of Transport, Barbara Creecy.
The annual results are far later than the legally mandated deadline to parliament of 30 September 2025.
However, this marks a slight improvement from the 2023/24 financial year, when SAA submitted its financials 10 months late. This 10-month delay was also noted as the reason for the 2024/25 delay.
Notably, SAA had six months to release its financial results after the period ended. This is double that offered to JSE-listed companies, which have three months to submit their financials.
In FY2024/25, the company generated revenue of R8.838 billion, a 35.89% year-on-year increase from R6.504 billion in the prior year.
SAA’s cash and cash equivalents position stood at R1.967 million at the end of FY2024/25. The airline also had no interest-bearing borrowings at year-end and R6.649 million in equity.
The net profit marks the second year in a row that SAA has recorded a profit since SAA exited business rescue in April 2021.
“These results demonstrate that despite numerous challenges, SAA is on course for a bright future,” said SAA CEO John Lamola.
“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.”
Sedzani Faith Mudau, Chairperson of the SAA Board, said the board is committed to improving the governance and reinforcing public trust in SAA.
Via the implementation of an Integrated Audit Health Plan, the airline is also set to 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.
Expanding the network
In 2024/25, the airline was granted approval to increase the fleet to 21 aircraft. By March 2025, 14 of these aircraft were in service, serving 16 destinations. The airline currently flies 19 aircraft.
The SOE has also tried to rebuild its network to a diversified portfolio of 17 routes. During the year, it resumed flights to Perth, Australia. It also resumed flights to Lubumbashi, Congo and Dar es Salaam, Tanzania.
Creccy congratulated the airline on its financial performance and its governance processes.
“The shareholder congratulates SAA for reaching this important milestone, which includes both a modest net 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.”
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