South African Airways reported a net profit of 966 million rand ($140.6 million) for the fiscal year ended March 31, reversing a massive 8.6 billion rand loss in the prior financial year that largely was owing to currency hedges that went badly wrong. Revenue increased 6.8% while costs rose just 1.9% (below inflation) during the 12-month period. CEO Khaya Ngqula said the financial turnaround was led by the carrier's aggressive and strict operating cost control as well as the first impact ...

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