SAA blames weakened rand for loss
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SAA reported an operating loss of R991m for the financial year 2012/2013.
SAA CFO Wolf Meyer attributed the losses to the weakened rand, adding that 60% of the airline’s costs were dollar denominated costs. He pointed out that the rand had weakened 13% year on year.
The airline announced last year that all its long-haul flights were loss making, however, it had to retain routes that were of strategic importance to its shareholder, government, such as the route to Beijing."
Source
Johan