South African Airways reports 44.5% increase in net profit; Mango reports 26% profit increase
South African Airways (SAA) reported a 44.5% year-on-year increase in net profit to *USD81.4 million for the 12 months ended 31-Mar-2010, attributable to a 25% decline in the average fuel price during the period. The carrier stated the increase in profit was achieved despite a 2.4% decline in passenger numbers and a 14% slide in cargo revenue. SAA returned to profitability for the first time in three years in FY2009.
