This profit share payout is testament to the team’s commitment, culminating in a solid financial result 2013 for the Airline Group.
Fiji airways
Nadi
The Fiji Airways, Fiji’s National Airline, announced that the airline’s staff and management will earn over F$1.25m in profit-share and bonuses.
This was a result of the company’s financial performance in 2013 (nine-month period ended December 31st).
It was the first profit share payout for the National Airline since the plan was approved in principle by the Board in the last year.
Stefan Pichler, managing director/chief executive said: “It was one of my key short term objectives to get this great initiative activated for the last financial year.
“We want to become the employer of choice, and an organisation which rewards its people for good performances. We all have to share good and bad times together. And when we deliver on our key business objectives, everyone should benefit.”
“This profit share payout is testament to the team’s commitment, culminating in a solid financial result 2013 for the Airline Group.”
A total number of 810 non-management employees will each receive F$1,400 each.
This number includes employees of Fiji Airways’ wholly owned subsidiary Pacific Sun (soon to be Fiji LINK).
The total profit-share payout amount for staff is F$1.04m. Fiji Airways’ and Pacific Sun’s 67 management staff will receive a management bonus of F$4,000 each, subject to taxes and superannuation deductions as required.
Those management bonuses will total $0.258 m.
In addition, non-management staff for both airlines already stand to earn quarterly KPI-related bonuses of up to $1,200 per year, on achievement of key business objectives.
In 2013 alone, Fiji Airways paid non-management staff a significant amount in KPI-related bonuses.
Mr Pichler said: “Our quarterly KPI payouts and our now implemented profit-share program reward people and focus on the basics of what makes a great airline – safety, operational excellence and great customer service.”
The Air Pacific Group, which includes Fiji Airways, Pacific Sun and a stake in the Sofitel Denarau Resort and Spa, recently reported a net profit after tax of $14.5 million.
This was for the nine month period ended 31 December 2013. This is compared to an operating profit before income tax of $17.8 million for the preceding twelve month period ended 31 March 2013.
The nine month performance was driven by an increase in passenger numbers by 2.5 per cent with an additional revenue of one per cent.
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