South African Airways (SAA) Group has “recorded a R155-million net profit for the year ended 31 March 2025” and South African Airways (the airline) has “recorded a R30-million profit for the same period.”
The results were announced at SAA’s Annual General Meeting (AGM) held in Johannesburg early February 2026, at which the “audited financial results of SAA SOC (State-Owned Company) Limited for the financial year ended 31 March 2025 (FY2024/25) were received and accepted by the Shareholder Representative, Minister Barbara Creecy, the Minister of Transport.”
The airline reports that: “The SAA SOC Limited generated revenue of R8.838-billion, a 35.89% year-on-year increase on the R6.504-billion in revenue generated in FY2023/24.”
Also, “SAA’s cash and cash equivalents position remained strong, at R1.967-billion, at the end of FY2024/25. The airline has no interest-bearing borrowings at year’s end and R6.649-billion in equity.”
SAA stated that “during 2024/25, approval was granted to increase the fleet to 21 aircraft. By the end of the 2024/25 financial year, 14 of these aircraft were in service, serving 16 destinations. Currently, the airlines flies 19 aircraft.”
“SAA has methodically rebuilt its network to a diversified portfolio of 17 routes. In its 2024/25 financial year, and in April 2024, it resumed flights to Perth, Australia. It also launched international routes to Lubumbashi and Dar es Salaam.” SAA added.
SAA Group noted that “the fiscal year ending March 2025 marks the second year a profit has been recorded since SAA exited business rescue in April 2021.”
Releasing the results, SAA Group CEO, Professor John Lamola, said: “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 the elevation of customer experience.”
Chairperson of the SAA Board, Ms. Sedzani Faith Mudau said: “As the incoming board, we acknowledge that our financial recovery could not have been achieved without the support of our shareholder representative, Transport Minister, Ms Barbara Creecy, the Department of Transport, and the principled leadership and guidance of the former SAA Board, led by Chairperson Derek Hanekom. I also want to thank the CEO, Prof John Lamola, the senior management, and all staff members for their hard work and dedication during the year in question.”
Minister Creecy commended the airline, stating that: “The shareholder congratulates SAA for reaching this important milestone, which includes both a modest net profit and finalising the last of five outstanding audits.”
“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.” The Minister added.