South African Airways posts $142 million net profit

South African Airways posts $142 million net profit    South African Airways (SAA) posted a net profit of rand 966 million ($142 million) compared to a rand 8.6 billion loss ($1.26 billion) last year.
   The airline said the turnaround was due to an aggressive and strict operating cost control and the first impact of the materialization of operating efficiencies.
   “In the year under review our operational costs have increased much slower than our revenue — a simple formula we intend to pursue going into the future,” said Khaya Ngqula, chief executive officer of SAA.
   SAA said its gross profit margin increased 5 percent despite a 40 percent rise in fuel costs.