Devastating impact of Covid-19 shows on Airports Company SA's books

“The increasing pace of vaccinations locally and in other countries, along with the advent of vaccination certificates should encourage continued recovery in cross-border travel.”

The company disposed of its 10% shareholding in Mumbai International Airport for R1.26bn, received a loan of R810m from the Development Bank of Southern Africa, and received R2.3bn from the issuance of preference shares to the government. “Our responsible approach meant when the pandemic struck, Acsa had already reduced its debt by some R10bn over the previous seven years. The low gearing and asset base of more than R31bn are therefore providing a solid base for recovery over three to five years.”

“Most businesses have faced some very difficult decisions in responding to the impact of Covid-19 over the past 18 months. Acsa is no exception. We are, however, very much aware of the situations of our partners and stakeholders. We are trying as far as we are able to help them to mitigate the impacts that they are experiencing.

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