Fiji Airways record profit
27 March, 2018, 12:00 am
THE Fiji Airways Group yesterday announced its highest ever profit before tax amounting to $95.8 million for 2017.
The airline staff members were informed yesterday in Nadi that the figure represented an increase of 13.4 per cent from the 2016 financial year.
Eligible non-management staff of Fiji Airways and its subsidiary Fiji Link will each receive a profit-share payout of $4400 while eligible managers of the two companies will each receive a management bonus of no less than $9900. These amounts will be subject to tax and superannuation deductions.
Airline CEO and managing director Andre Viljoen said it was a massive achievement for the team to have a fourth year of successive record profits.
“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,” he said.
“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.
“The result also wouldn’t have been possible without the support of our stakeholders. Chief among them are our customers, the Fijian people and Government.”
Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum also praised the airline staff, management and board for their part in helping the national airline grow.
“For a country that’s very heavily dependent on tourism, it is critically important for us to have a very healthy national carrier,” he said.
“This result is a proud achievement not just for the airline but for the entire nation. Fiji Airways has again proved itself to be a star player in Team Fiji.
“We wish to especially thank Fiji Airways workforce for your dedication. The healthy profit-share you are now receiving is only possible when management and staff share the same goals.”
The airline also carried about 1.6 million passengers last year compared with 1.4 million in 2016.
Mr Viljoen said 2017 marked numerous milestone achievements for the group, which amassed a total revenue of $929m compared with $825.3m for 2016.
The group, legally known as Air Pacific Ltd, comprises of Fiji Airways and its subsidiaries, Fiji Link and Pacific Call Comm. Ltd plus a 38.75 per cent stake in the Sofitel Fiji Resort & Spa,