South African Airways Now Profitable, Ends State Dependency

South African Airways has become self-sustaining, no longer requiring government financial support to fund its operations or fleet growth, according to Transport Minister Barbara Creecy. Speaking during the 2025/26 budget speech in Parliament, she confirmed the airline reported a ZAR252 million (USD14.3 million) profit for the 2022/23 fiscal year—the first since 2012.

Now operating without state guarantees, SAA is focusing on route and fleet expansion while remaining open to a strategic equity partner. A study by Oxford Economics Africa shows SAA contributed ZAR9.1 billion (USD518.8 million) to the national GDP in 2023/24, a figure projected to rise to ZAR32.6 billion (USD1.8 billion) by 2029/30. Job creation is also expected to grow from 25,000 to 86,700.

SAA is aggressively expanding regionally and globally, with new routes from Johannesburg and Cape Town aimed at enhancing intra-African connectivity. The fleet has grown to 18 aircraft, with 14 active, though supply chain issues continue to delay the return of two A330-300s and four A320-200s.

A new financing facility is under discussion to support operations following the collapse of a ZAR3 billion deal with the Takatso consortium. The airline declared itself debt-free in October 2024 after a massive state bailout during its 2020 business rescue.

Creecy also addressed urgent reforms at Air Traffic and Navigation Services (ATNS), including hiring key staff and modernizing outdated infrastructure. Meanwhile, Airports Company South Africa has earmarked ZAR21.7 billion for upgrades, including a new air freight terminal at Johannesburg, aiming to handle 42 million passengers and 1.2 million tons of cargo annually.

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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com