Airline Finance News - Africa / Middle East.For more airline finance news, data and analysis, please go to: http://www.airguideonline.com/professional.htm Jul 10, 2006 South African Airways South African Airways (SAA) is South Africa's largest domestic and international airline company, with hubs in Cape Town and Johannesburg. It is also known in Afrikaans as Suid-Afrikaanse Lugdiens (SAL) South African Airways profits plunge 90%. Falling yields, low-cost competition and soaring fuel costs had a devastating dev·as·tate tr.v. dev·as·tat·ed, dev·as·tat·ing, dev·as·tates 1. To lay waste; destroy. 2. To overwhelm; confound; stun: was devastated by the rude remark. effect on South African Airways' bottom line during the fiscal year ended March 31 as profits plunged 90% to ZAR ZAR In currencies, this is the abbreviation for the South African Rand. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 65 million ($9.1 million) from ZAR648 million, the carrier said yesterday, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. press reports. Jul 7, 2006 |
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