Fiji Airways
Rachna lal
suva
Our national airline has assured it will ensure its staff, shareholders and customers all benefit from their future success.
This came from Fiji Airways managing director/chief executive, Stefan Pichler, as the Air Pacific Group announced its financial results for nine months period ended December 31, 2013.
Air Pacific Group reported an after tax profit of $14.5 million for the nine-months period compared to $17.8 million from the preceding 12-months.
The nine months performance was attributed to have been driven by an increase in passenger numbers by 2.5 per cent with additional revenue of one per cent.
Hence, Fiji Airways said there was a slight yield decrease of -1.5 per cent because of the relentless competitive environment, especially from/to the US and Australia.
The group further recorded $541.2 million revenue compared to $690.6m for prior nine-months period.
The Group changed its financial year to reflect the calendar year following a Board decision. The prior financial year was from April 2, 2012 and March 31, 2013.
Air Pacific Group comprises Fiji Airways, subsidiary Pacific Sun, and 38.75 per cent stake in the Sofitel Fiji Resort & Spa.Though the group no longer gives seperate results, Mr Pichler confirmed both airlines were profitable.
Transition year
Group chairman, Nalin Patel, said 2013 was a major transition year for Fiji years with rebranding, introduction of Airbus A330 and retiring Boeing 747 aircraft.
“This transition alone accounted for more than $14 million one-time transition expenses in the financial year 2013,” he said.
“We also brought in Mr Stefan Pichler to lead Fiji Airways to new levels.
“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.”
Plans ahead
Mr Pichler said their recently-approved five-year Master Plan sets the foundation for sustainable and profitable growth between now and the end of 2017.
“It’s an incredibly exciting time for us as we get ready to bring new aircraft in, growing our fleet by 25 per cent,” he said.
“We have announced new routes and have strengthened in particular our South Pacific network.
“We’re pursuing new airline partnerships and working together more closely with our current allies and we will also work closer with our business partners in the travel trade and in cargo.
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