Shareholders like Government could finally receive payments after seven years
RAchna lal
suva
The Air Pacific Group has set its target to pay out dividends to its shareholders next year after the end of the current fiscal year.
The beneficiaries of this would of course be the Fijian Government which the majority shares of 51 per cent and Qantas which has 46.3 per cent shares.
Fiji Airways managing director/chief executive, Stefan Pichler, has confirmed the last dividend paid out to shareholders was in 2007/2008 financial year.
“Therefore, after seven not-so-exciting years for our shareholders, we hopefully come back on track,” he said.
“For the future if we deliver to our business plans, we should be able to get a good return to our shareholders and be an attractive asset in their portfolios.”
However, whilst this is planned for next year, the current focus from the past financial year for the airline was to reward all the airline’s hardworking staff and management through profit-sharing and bonuses.
The airline in the past week paid out over $1.25 million as profit-share and bonuses. The bonus is equal to nine per cent of their profit after tax.
The Air Pacific Group had recorded profit after tax of $14.5 million for the nine-months financial year ended December 31, 2013.
Feedback: rachnal@fijisun.com.fj
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