Turnaround still underway for Fiji Airways

Turnaround still underway for Fiji Airways
By admin


The recently rebranded Fiji Airways has reported a record year for revenue and passenger numbers in 2012/13, just three years after turning the biggest loss in its history.

The carrier, formerly known as Air Pacific, posted an after tax profit of $14.1 million (AU$8.1m), compared with $11.4 million (AU$6.5m) in the last financial year, as revenue rose $13.8 million (AU$7.9m) on last year and $104.3 million (AU$59.9m) on the 2010/11 financial year.

The airline carried 14,167 more passengers over the year than in 2011/12 and 99,649 more than in 2010/11.

Chairman of the airline’s board of directors, Nalin Patel, described the second year of sustained operating profit as a “good result”.

“Given that we initially expected to make a loss during this transition year, wherein we are exiting our older B747s and inducting our first ever owned A330 wide-body aircraft, I’m quite pleased with our results for 2012/13,” he said.

“These results handily beat our business plan, and I continue to be thrilled with the successful turnaround of Fiji’s national airline.”

Patel stressed the restructure and turnaround of the airline continues, with “sustainable profitability” the end goal in the face of numerous obstacles.

“We remain ever mindful of the possible challenges posed by market uncertainty, a slowdown of major world economies, and the ever-present threat of further volatility in oil prices,” he said.

Stefan Pichler will take the airline forward on the next stage of its journey, with the former Virgin Blue and V Australia executive named last week as the replacement for departed chief executive and managing director, Dave Pflieger.

Pichler will join Fiji Airways on September 1.

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