Fiji Airways announces highest-ever operating profits

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Written by Linda Hohnholz

NADI, Fiji – Fiji Airways Group reported record-breaking revenue and passenger numbers for the fiscal year, announcing an increase in operating profits from 2013.

NADI, Fiji – Fiji Airways Group reported record-breaking revenue and passenger numbers for the fiscal year, announcing an increase in operating profits from 2013.

The Group recorded an operating profit of $60.8m from January 1st – December 31st 2014. These results are more than two times better than the best operating profit achieved in the history of APL back in 2005. Fiji Airways Group earned $770m revenue and grew passenger numbers by 4.5%, flying 1,244,596 passengers in 2014.

The announcement of the record result was described by the Attorney General, Aiyaz Sayed-Khaiyum, stating “The fact that even the lowest paid worker in Fiji Airways is to receive a bonus of $3000 is unparalleled in Fijian corporate history. It is a tremendous vindication of all the hard work that the staff and management have put in over the past few years to turn Fiji Airways around and secure its future.”

Fiji Airways Performance for 2014:

โ€ข Increase in RASK (Unit Revenue) 6.9%
โ€ข Increase in CASK (Unit Cost) (2.0%) – in line with productivity growth
โ€ข Increase in passengers flown: 4.5%
โ€ข Increase in load factor: 8.2%
โ€ข Increase in trips: 5.3%
โ€ข New routes launched: Suva-Sydney, Suva-Apia
โ€ข Increased frequencies: Australia, New Zealand, Hong Kong, Tuvalu, Samoa

Financial Results

Group Company
Year Ended 31 December 2014 9 months Period ended 31 December 2013 Year ended 31 December 2014 9 months Period ended 31 December 2013
Revenue 769,527 541,185 735,627 512,908
Profit before income tax 60,778 14,166 65,229 8,250
Profit after income tax 52,850 14,483 55,592 8,743
Basic Earnings Per Share $2.03 $0.56 $2.13 $0.34

Operating & load statistics FY14 FY13* YoY
YoY %

Passengers flown 1,244,596 1,190,735 53,861 4.5%
Load factor 83% 77% 6.3pts 8.2%
Trips 9,002 8,552 450 5.3%
RASK (cents) 14.84 13.89 0.96 6.9%
CASK (cents) 13.67 13.41 (0.26) (2.0%)

*12 months period – Jan to Dec 2013
The Group, legally known as Air Pacific Limited, comprises Fiji Airways (Fiji’s National Airline), its subsidiary Fiji Link, and a 38.75% stake in the Sofitel Fiji Resort & Spa on Denarau Island.
All amounts listed in FJD.

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Linda Hohnholz

Editor in chief for eTurboNews based in the eTN HQ.

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