CASA made an operating profit of $12 million in the 2012-13 financial year, according to the annual report presented to the minister on 24 October.
The regulator's total income for the year was $184.4 million against operating expenses of $172 million.
The surplus represents a $13.8 million turnaround on the $1.8 million operating loss made in 2011-12, and is $5.9 million more than the original estimates for the year.
According to the annual report, the surplus is due to higher than expected revenue from fuel excise, which made up 66% of CASA's income, or $121 million.
By comparison, sales of goods, rendering services and other sources contributed 11% and the federal goverment funding contributed 23%.
In his review, Director of Aviation Safety John McCormick predicted another operating surplus next year.
"CASA’s retained surplus is budgeted to remain constant in 2013–14, but is expected to improve in the following years as a result of operating surpluses," he said.
Of the operating cost of $172 million, 63% was employee costs with supplier and miscellaneous at 30% and depreciation and amortisation at 7%.
The financial returns have placed CASA in a healthy cash position, with $60.2 million in the bank at the end of June 2013.