Tuesday, 27 March 2018

Record pre-tax profit for Fiji Airways


The airline from the heart of the South Pacific, Fiji Airways, announced this week, that it achieved its highest ever pre-tax profit during 2017.   The sunny airline amassed an F$95.8 million profit for the fiscal year that ended December 31, 2017, a 13.4% increase over the previous financial year, prior to taxation.

The figure is the cumulative amount from the entire Fiji Airlines Group which includes Fiji Airways - Fiji's National Airline; its subsidiaries Fiji Link & Pacific Call Comm. Ltd; plus a 38.75% stake in the Sofitel Fiji Resort & Spa on Denarau Island. 

The announcement was made by the Fijian Attorney General and Minister responsible for Civil Aviation, the Honourable Aiyaz Sayed-Khaiyum from the carriers head office in Nadi.  

Read on for reactions to the record profits and highlights on how the company did over last year.


The new lounge at Nadi

Results Highlights:

Group revenue was F$929 million compared to F$825.3 million for the previous year ended 31st December 2016 (up by 12.5%)
Group profit before tax was F$95.8 million compared to F$84.5 million for the previous year ended 31st December 2016
The Group carried 1.6 million passengers compared to 1.4 million for the previous year ended 31st December 2016 (up by 14.3%)
Profit-share for non-management staff and minimum bonus for management increased by 10% compared to the previous year.
Mr Andre Viljoen, Fiji Airways Managing Director & CEO, said: "To achieve a fourth year of successive record profits is a massive achievement by the entire team of the Fiji Airways Group. I couldn't be more proud of the way the team surpassed all key metrics for revenue, passenger and network growth, efficiently navigating through a challenging operating period in which cost control was crucial. 2017 saw the achievement of numerous milestones for the Group. The team increased the size of the fleet, launched a new route, increased frequencies on key long-haul routes and opened a world-class lounge at our home airport – Nadi."

Founded in 1951 Fiji Airways has a fleet of brand new widebody A330s and refreshed B737 aircraft. while Fiji Link has a fleet of ATR72, ATR42 and DHC-6 Twin Otter aircraft operating from bases at both Nadi and Suva International Airports. Together they serve 108 destinations in 17 countries (including code-share flights).  
The route network includes destinations in Australia, New Zealand, the USA, Canada, the UK, India, Hong Kong, Singapore, Japan, Thailand, Samoa, Tonga, Tuvalu, Kiribati, Vanuatu and Solomon Islands. 

The biggest shareholder in the group is the Fijian Government with 51% and this holding is followed by Qantas 46%. The rest of the shares are divided between Air New Zealand, and the Governments of Samoa, Tonga, Kiribati and Nauru.

Around 64 percent of the visitors to Fiji arrive via the Fiji Airways Group and the company employs over 1300 people making it one of the largest employers in the region. 

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