South African Airways (SAA) has achieved a net profit of R252 million for the 2022/23 financial year, marking its first positive result since 2012. Group revenue surged by 183% to R5.7 billion, while earnings before interest, taxes and depreciation improved from a R1 billion loss to R277 million. Additionally, SAA achieved positive equity of R4.7 billion and cleared all legacy debt, becoming debt-free since its 2021 exit from business rescue. Despite starting the year with six to eight aircraft serving nine destinations, SAA has doubled its fleet, expanded to 16 destinations and introduced intercontinental routes to São Paulo and Perth. Staff numbers also increased from 800 to 2 000, reflecting significant progress in SAA’s growth and financial sustainability.
