AIRPORTS Fiji Limited's financial position remains strong, chief executive officer Tony Gollin said.
In his report contained in the company's 2011 annual report, Mr Gollin said the key source of AFL's revenue was the 273,718 international passengers movement last year compared to the previous year.
"Aeronautical revenues increased by 4.9 per cent or $1.765million as a result of the positive growth in passenger numbers and aircraft movements. Non aeronautical revenues also increased by 14.7 per cent or $2.847million as a result of increases concession revenues," he said.
Mr Gollins said AFL's operating expenses for last year increased by 14 per cent or $4.008million against the previous year, while salaries - one of the largest expense items, was $13.608 million in 2011.
The increase in electricity unit rate raised the company's utilities bill by 50.8 per cent or $1.991million to $5.9276million for last year, he said.
The value of the company's assets for the same period decreased to $193.343million compared to $194.979million for the period ending December 2010, Mr Gollin said.
"The interest cover ratio, which determines how easily a company can pay interest on outstanding debt, was 15.5.
"The gearing ratio is the contribution of the owner's equity to borrowed funds. The ratio explains the degree to which the business is funded by the owner rather than from borrowed funds. As at December 31, 2011, the gearing ratio of AFL was 9.2 per cent compared to 11.7 per cent in 2010," Mr Gollin said.