Are ACSA crooks?

[mancombseepgood]

http://www.fin24.co.za/articles/default/display_article.aspx?Nav=ns&ArticleID=1518-1786_2148729
It seems it is in their interest to spend more on assets since their airport tax / fee is directly related to their assets...
And whats with a second airport for Durban?

 

[supersunbird]

Aaaah, SA second favorite passtime! State monopolies!

 

[arf9999]

ACSA Financial results, Net Profit (after tax):
2002: 410 Million Rand
2003: 661 Million Rand
2004: 471 Million Rand
2005: 593 Million Rand
2006: 619 Million Rand
Over 5 Years: 2.754 Billion Rand that was distributed as dividends to the usual suspects:
Shareholder, No. of shares , % of share capital.
SA Government – National Department of Transport 372 994 884 74,60%
ADR International Airports SA (Pty) Ltd (refer below) 100 000 000 20,00%
Staff Share Incentive Schemes 5 962 452 1,19%
Empowerment Investors:
G10 Investments (Pty) Ltd 6 042 664 1,21%
African Harvest Strategic Investments (Pty) Ltd 7 000 000 1,40%
Pybus Thirty Four Investments 2 000 000 0,40%
Telle Investments 4 000 000 0,80%
Upfront Investments 64 (Pty) Ltd 2 000 000 0,40%

The question remains, if ACSA run a vital service to the South African economy, why did they not retain some of these profits and invest them in infrastructure during this five year period?

 

[xrapidx]

... and who do you think steals all your luggage?

 

[mancombseepgood]

... and who do you think steals all your luggage?

The government? According to the shareholders stats... So much for privatisation... SAA=ACSA=SAG=TELKOM=VODACOM

 

[Slooth]

The question remains, if ACSA run a vital service to the South African economy, why did they not retain some of these profits and invest them in infrastructure during this five year period?

That's a rhetorical question

Here's another, why do we pay Telkom monthly fees for infrastructure that had been paid for long ago with tax payers money?