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AAGM: Airline Turns Around.
(From The Monitor (Uganda): AAGM)
Byline: Moses Serugo
South African Airways (SAA) announced a 1bn rand turnaround Thursday when the financial results for the year ending March 2002 were made public. The airline also announced a headline earnings result of about 500m rand.
Lukia Otema, the airline's Sales Manager for Uganda says the airline had an approximate revenue increase of 25 percent and operating costs were contained at below 20 percent, reflecting a significant improvement in operating performance.
"Cash in the bank is also said to have increased from around two billion rand to four billion rand,' she said. "The turnaround has been driven by the strategy of ...
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