Fiji Airways Group Announces Record F$95.8M Profit for 2017

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Mar 26, 2018, 09:00 ET

NADI, Fiji, March 26, 2018 /PRNewswire/ -- The Fiji Airways Group has announced its highest ever profit before tax of F$95.8 million for the fiscal year that ended December 31, 2017, a 13.4% increase over the previous financial year. The Group (legally known as Air Pacific Limited) comprises of 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 at the airline's Head Office in Nadi by the Fijian Attorney General and Minister responsible for Civil Aviation, the Honourable Aiyaz Sayed-Khaiyum.

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."

About Fiji Airways: Founded in 1951, Fiji Airways Group comprises of Fiji Airways, Fiji's National Airline and its subsidiaries: Fiji Link, its domestic and regional carrier, Pacific Call Comm Ltd, and a 38.75% stake in the Sofitel Fiji Resort & Spa on Denarau Island, Nadi. Fiji Airways has a fleet of brand new wide body A330s and refreshed B737 aircrafts. Fiji Link has a fleet of ATR72, ATR42 and DHC-6 Twin Otter aircraft. From its hubs at both Nadi and Suva International Airports, Fiji Airways and Fiji Link serve 108 destinations in 17 countries (including code-share). Destinations include Australia, New Zealand, the USA, Canada, the UK, India, Hong Kong, Singapore, Japan, Thailand, Samoa, Tonga, Tuvalu, Kiribati, Vanuatu and Solomon Islands. The Fijian Government is the major shareholder (51%), followed by Qantas (46%). The rest of the shares are divided between Air New Zealand, and the Governments of Samoa, Tonga, Kiribati and Nauru. The Fiji Airways Group brings in 64 percent of all visitors who fly to Fiji, employs over 1300 people, earns revenues of over FJD$929 million per annum, and directly contributes a significant portion of the country's Gross Domestic Product (GDP). Fiji Airways rebranded from Air Pacific in June 2013.