Fiji Pine threw out a $10m bailout plan: Khan

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Fiji Airports chief executive Faiz Khan. Picture: FT FILE

THE Pine Group of Companies threw out a $10million bailout plan in 2010 and made a bold decision to turn the company around through prudent financial management.

This was the revelation by group executive chairman Faiz Khan during the bonus payout on Thursday, last week.

“You have achieved all of this and many more without any Government subsidies,” he said.

“Seven and a half years ago we decided to throw a $10million bailout grant paper done by our predecessors in the rubbish bin because here we believe that subsidies are inherently bad for the long term.”

Read the full story in today’s edition of The Fiji Times and in our e-Edition.

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