ACSA records R400 million profit in 2023/24 financial period

JOHANNESBURG - The Airports Company of South Africa (ACSA) recorded a R400 million profit in the 2023/24 financial period.

This is the first profit the state-owned entity has recorded post-COVID-19.

The announcement was made during a briefing by ACSA at their OR Tambo International Airport offices.

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Despite a number of issues that marred the Airports Company of South Africa, more specifically, the recent jet fuel shortage, ACSA recorded a R400 million profit in the 23/24 financial period the first time since 2019.

Addressing the media at their offices near OR Tambo in Johannesburg on Tuesday morning, ACSA CEO Mpumi Mpofu outlined their recovery.

"ACSA is steadily recovering from the years of COVID in terms of overall performance. This is the year in which we declared a profit."

Mpofu admitted that ACSA was battling infrastructure woes, something they are addressing with a major capital programme over the next five years.

"R21 billion over the next five years, of which 70% - R14 billion - is going to be spent on maintenance, refurbishment and replacement of our infrastructure."

She said that the recent failure of a jet fuel valve at OR Tambo International Airport and cable issues at Cape Town International Airport were clear signs of infrastructure deterioration.