Airports company increases operating revenue

Cape Town- South Africa (PANA) -- Airports Company South Africa Limited said it increased its operating profit by 26.
8 percent to 67.
9 million US dollars and profit before tax rose by 21 percent to 67.
1 million US dollars.
Company chairman, Mashudu Ramano revealed the profits for 2000/2001, saying, "This has been another successful year in which Airports Company South Africa Limited delivered value to its shareholders while contributing to the transformation agenda of the country.
" He said profit attributable to shareholders increased by 20.
4 percent to 44.
1 million dollars while earnings per share rose to 8.
8 cents from 7.
3 cents.
Headline earnings per share grew to 8.
7 cents from 7.
3 cents.
Ramano said, despite a decline in the number of international airlines using ACSA facilities since it peaked in 1997, EBITDA (earnings before interest, tax, depreciation and amortisation in relation to sales) has grown to 82.
8 million dollars from 33.
6 million dollars over the five years since that date.
The board has recommended an increase in the dividend to 13.
1 million dollars from 8.
5 million dollars, indicating that ACSA has paid shareholders 39.
2 million dollars in dividends over the past five years.
He said ACSA has committed capital expenditure of 337 million dollars to improve airports infrastructure.
However, Ramano said code sharing agreements and major airline alliances negatively impacted the number of flights, thus placing passenger growth below IATA forecasts.
He, therefore, called for a relaxation of existing bilateral agreements with 102 countries, where demand exists on particular city or country pairs.
"It is our view that bilaterals should not necessarily stipulate the national carrier as the nominated airline.
This should be left open for the market to determine," he observed.
The slot per week methodology, on which bilaterals are currently based, should be studied in conjunction with passenger volumes due to the vastly varying sizes of aircraft serving different routes, he suggested.
In addition, Ramano wants international airlines to be granted the right to allow international passengers to re-board an international flight on a domestic route, and to mix passengers from different international origins to other domestic or international destinations.
Ramano later called for adherence to the "Yamoussoukro Decision" which essentially provides for an open skies policy between member states of the erstwhile Organisation for African Unity (now the African Union).

26 july 2001 10:58:00




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