Air Pacific Limited has recorded an operating profit of 16.5 million dollars for the financial year ending March 2012, compared to an operating loss of $3.7 million for the previous year.
Air Pacific Group which includes Pacific Sun and a 38.75 percent stake in Sofitel Fiji Resort has also reported an operating profit of 13.4 million dollars compared to an operating loss of 4.3 million dollars.
Chairman of Air Pacific Nalin Patel said that the after tax profit for Air Pacific Limited is $11.4 million and $10.7 million Air Pacific Group.
The airline has also announced that it has recorded its highest ever revenue of $645.9 million, an increase of $90.5 million in revenue from the previous financial year.
It has been revealed that the airline has also carried 85 thousand more passengers than it did the previous financial year and 122 thousand more passengers than it carried in the 2009 and 2010 financial year.
Patel said that the fact that they have managed to return the airline to an operating profit only two years after they experienced the biggest loss in their history speaks volumes about the experience and capability of the new management and the soundness of the turnaround plan.
Air Pacific made an operating loss of $91.8 million two years ago.
Story by: Vijay Narayan
