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Fiji Airways in 4-year in a row profit streak

FIJI’s rebranded international airline Fiji Airways continued its profit-making performance to four years in a row now with the announcement last month of a F$70.2million (US$33.9m) before tax profit by the end of its financial year of 31 December 2015. This is the result of Fiji Airways Group, comprising Fiji Airways, its domestic subsidiary Fiji Link and a 38.75 per cent stake in Sofitel Fiji Resort & Spa on Denarau Island in Nadi, and compares favourably with the $60.8m (US$29.36m) profit of the previous financial year.

Details released by the airline showed a 7.4 per cent growth in passenger numbers generated a 6.3 per cent increase in revenue. Its financial announcement also revealed that: n Group revenue was $815.3m compared to $767.4m for the year ended 31st December 2014. n Group profit before tax was $70.2m compared to a $60.8m for the year ended 31st December 2014. n Group passenger numbers of 1.3m compared to 1.2m for the year ended 31st December 2014. The group’s profit-making record began in 2012, after two consecutive years of operating losses in 2010 and 2011, of $91.8m and $3.6m respectively.

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