Fiji Time: 4:57 PM on Friday 26 August

Fiji Times Logo

/ Front page / News

Air Pac Group rakes in $541.2m

Geraldine Panapasa
Tuesday, April 15, 2014

IN light of recent changes to its financial year, Air Pacific Group recorded total revenue of $541.2million for the nine months ending December 31, 2013.

The group, which comprises Fiji Airways, Pacific Sun and a 38.75 per cent stake in the Sofitel Fiji Resort & Spa on Denarau, reported an after tax profit of $14.5m for the nine-month period compared with $17.8m for the preceding 12-month period.

Air Pacific Limited, trading as Fiji Airways, board of directors chairman Nalin Patel said the airlines and their consolidated group made profits during the calendar year.

He said one of the major highlights was the appointment of new Fiji Airways managing director and CEO Stephan Pichler.

"For the board, this means confidence in the further growth path for the airline's fleet, network, people, services, sustainable profitability and increased returns to the shareholders in the years ahead," he said.

In a statement, Attorney-General and Minister for Public Enterprises Aiyaz Sayed-Khaiyum said few people believed the airline could survive.

"But the Fijian Government acted decisively to save it by ensuring dynamic management and instituting financial discipline that has led to job security and job growth," he said.

"It is through the collaboration of the Fijian Government, Fiji Airways board of directors, and the staff members that our national airline has a very strong and firm footing for the future."

For the 12-month period to March 31, 2013, the group recorded total revenue of $690.6m compared with total revenue of $678.3m for the corresponding period in 2012.

In terms of profit before income tax, it recorded $14.2m for the 12 months to March 31, 2012, $22.4m for the 12 months to March 31, 2013 and $14.2m for the nine months to December 31, 2013.

Profit after income tax totalled $10.7m for the 2012 financial year, $17.8m for the 12 months to March 31, 2013 and $14.5 for the nine-month period ending December 31 last year.








Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Westpac
Code Inward TTs Outward TTs
CAD 0.63900.6200
JPY 50.424247.4242
GBP 0.37370.3657
EUR 0.43830.4263
NZD 0.68420.6512
AUD 0.65260.6276
USD 0.49640.4794

from

$0.00

Exchange Rate updated on 26th August 2016

Today's Most Read Stories

  1. Wong helps Rawaca get a gold medal
  2. Ryan may return
  3. Special gift for national 7s coach
  4. Drums and dholaks greeting for 7s heroes
  5. Premature comments
  6. Medals of honour
  7. Rabuka notes drop in sugar production
  8. Burglar bar tip
  9. PNG issues ultimatum
  10. Police probe road death

Top Stories this Week

  1. Ardent fan escorted out of celebrations Sunday (21 Aug)
  2. The woman behind Ryan Saturday (20 Aug)
  3. God — is he dead? Maybe, but not Osea Kolinisau's Sunday (21 Aug)
  4. Ryan confirms decision to leave Fiji Sunday (21 Aug)
  5. 5.1 magnitude earthquake occurs in Fiji Monday (22 Aug)
  6. Taliga eyes Tokyo Tuesday (23 Aug)
  7. 1 charged, 2 under probe for break-in Thursday (25 Aug)
  8. 7s top job Tuesday (23 Aug)
  9. Police escort fan away Monday (22 Aug)
  10. 'Ryan a loss' Tuesday (23 Aug)