A few bits of news from SAA today.

SAA posted a net profit of R136m for the year to end-March - but this excluded restructuring costs of R1.34bn.

Costs have been reduced by almost R1bn (achieved primarily by grounding of the B747 fleet - which SAA were leasing for 60% higher than the current market rates - and standardising and simplifying conditions of employment)

and ... SAA are now looking for about R5.7bn from its shareholder to recapitalise the business (ie the Government)

Also reported was a sharp decline in baggage pilferage and although there was an initial increase in the number of bags being left behind due to equipment shortages, this problem has largely been resolved.