Fiji Airways has announced an after tax profit of $14.1 million for the financial year ended 31st March 2013.
Air Pacific Group which comprises Fiji Airways, Pacific Sun and 38.75 percent of Sofitel Fiji Resort and Spa, has reported an after tax profit of $17.8 million.
Fiji Airways said in addition, and before any further increase in the size of its fleet, the airline company increased annual revenue by $13.8 million compared to the 2011 and 2012 financial year and by $104.3 million compared to the 2010 and 2011 financial year.
The airline also carried 14,167 more passengers than in the previous year, and 99,649 more passengers than in the 2010 and 2011 financial year.
Chairman of Air Pacific Limited trading as Fiji Airways, Nalin Patel attributed the airline's decrease in underlying operating profit this year to the floods in April last year, Cyclone Evan in December 2012, expenditure related to rebranding the airline and costs related to preparation for induction of the airline's new fleet of A330s.
Patel said just three years ago, the company experienced the biggest loss in its history, so a record year of sustained operating profit is a good result.
Three years ago the airline company's operating loss was $91.8 million.
Patel said the restructure and turnaround plan is an ongoing process and they are still not done yet.
He said their plan is to build a platform to be sustainably profitable.
Attorney General and Minister for Civil Aviation, Aiyaz Sayed-Khaiyum said Fiji Airways is a national success story.
He said the dramatic turnaround of the airline is an accomplishment by a focused management team and dedicated workers all pulling in the same direction.
Story by: Vijay Narayan
