Fiji Airways Announces Highest-Ever Operating Profits of $60.8m

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Feb 24, 2015, 07:00 ET

NADI, Fiji, Feb. 24, 2015 /PRNewswire/ -- Fiji Airways Group reported record-breaking revenue and passenger numbers for the fiscal year, announcing an increase in operating profits from 2013.

The Group recorded an operating profit of $60.8m from January 1^st - December 31^st 2014. These results are more than two times better than the best operating profit achieved in the history of APL back in 2005. Fiji Airways Group earned $770m revenue and grew passenger numbers by 4.5%, flying 1,244,596 passengers in 2014.

The announcement of the record result was described by the Attorney General, Aiyaz Sayed-Khaiyum, stating "The fact that even the lowest paid worker in Fiji Airways is to receive a bonus of $3000 is unparalleled in Fijian corporate history. It is a tremendous vindication of all the hard work that the staff and management have put in over the past few years to turn Fiji Airways around and secure its future."

Fiji Airways Performance for 2014:

•	Increase in RASK (Unit Revenue)	6.9%
•	Increase in CASK (Unit Cost)	(2.0%) - in line with productivity growth
•	Increase in passengers flown:	4.5%
•	Increase in load factor:	8.2%
•	Increase in trips:	5.3%
•	New routes launched:	Suva-Sydney, Suva-Apia
•	Increased frequencies:	Australia, New Zealand, Hong Kong, Tuvalu, Samoa

Financial Results

	Group		Company
	Year Ended 31 December 2014	9 months Period ended 31 December 2013	Year ended 31 December 2014	9 months Period ended 31 December 2013
Revenue	769,527	541,185	735,627	512,908
Profit before income tax	60,778	14,166	65,229	8,250
Profit after income tax	52,850	14,483	55,592	8,743
Basic Earnings Per Share	$2.03	$0.56	$2.13	$0.34

Operating & load statistics	FY14	FY13*	YoY	YoY %
Operating & load statistics	FY14	FY13*	YoY	YoY %
Passengers flown	1,244,596	1,190,735	53,861	4.5%
Load factor	83%	77%	6.3pts	8.2%
Trips	9,002	8,552	450	5.3%
RASK (cents)	14.84	13.89	0.96	6.9%
CASK (cents)	13.67	13.41	(0.26)	(2.0%)

*12 months period - Jan to Dec 2013

The Group, legally known as Air Pacific Limited, comprises Fiji Airways (Fiji's National Airline), its subsidiary Fiji Link, and a 38.75% stake in the Sofitel Fiji Resort & Spa on Denarau Island.

All amounts listed in FJD.

Visit the full release for more details

About Fiji Airways: Founded in 1951, Fiji Airways Group comprises Fiji Airways, the National Airline of Fiji, and Fiji Link, its domestic and regional subsidiary. Visit www.fijiairways.com

For media inquiries, please contact:
Jaclyn Gaffaney
Myriad Marketing / Fiji Airways
[email protected]
+1 310-649-7700

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SOURCE Fiji Airways