International departures at local airports grew by 6.1%

AIRPORTS Company South Africa (Acsa), which operates and runs nine airports, said its profit for the year to the end of March had firmed 10.8percent to R2 billion, compared with R1.8bn in the previous financial year.

Acsa chief executive Bongani Maseko said yesterday the results were the company’s “best ever”. Revenue surged to R8.6bn from R8.3bn. Revenue from aeronautical sources, including fees charged to airlines, contributed 63percent.

Acsa said it wanted to continue to grow revenue from non-aeronautical sources, which include letting retail and office space, advertising and parking.

Debt, primarily in the form of bond issues, was R9bn, compared with R17bn in 2012, the company said.

Acsa announced a 35.5percent reduction in airport charges for the 2017/18 financial year last December. These charges were expected to increase 5.8percent in the 2018/19 and 7.4 percent in 2019/20. “We are happy to report that we have certainty following the tariff reduction. In the next couple of years, we are not going to have results as good as these,” Maseko said.

Acsa reported that 20 million passengers departed from its nine airports in the year to March, compared with 19.4 million the previous year. Domestic passenger growth was subdued at 2.2 percent, while international departures grew 6.1 percent.

“Cape Town International Airport reported more than 10 million arriving and departing passengers, with King Shaka International Airport reporting more than 5 million passengers.”

The government owns a 74.6percent stake in Acsa and 20percent is held by the Public Investment Corporation. A group of empowerment investors own 4.21percent and Acsa’s staff share scheme holds a 1.19 percent stake.