Airports Company South Africa reports R1 billion loss amid buyout reports

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Airports Company South Africa reported its financial results for the year ended March 2022, which it says largely reflect a difficult operating environment for the group following the Covid pandemic and last’ year’s civil unrest.

The results come amid reports that a number of prospective investors have expressed an interest in buying a stake in the company, but transport minister Fikile Mbalula has said that it’s not for sale.

Aircraft landings increased by 105% to 176,816 from 86,434 in the previous year, and departing passenger numbers improved by 131% to 10.5 million from 4.6 million. Total revenue from non-aeronautical sources takes into account rental revenue reprieves of R591 million granted to tenants to offset the negative impact of the pandemic.

 

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