Air Pacific Group reports nine-month profits

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By TESTCustomwebLP TESTCustomwebLP April 11, 2014 22:44

Air Pacific Group reports nine-month profits

For the nine months to December 31, 2013, Air Pacific Group, which comprises Fiji Airways, its wholly owned subsidiary Pacific Sun, and a 38.75% stake in the Sofitel Fiji Resort & Spa on Denarau Island, reported an operating profit before income tax of $14.2 million, compared to an operating profit before income tax of $22.4 million in the year-ago period. The group posted after tax profit of $14.5 million for the nine months period compared to $17.8 million from the preceding 12-month period. The nine months performance was driven by an increase in passenger numbers by 2.5 % with an additional revenue of 1.0%.

Stefan Pichler, MD&CEO says: “Our recently approved Five Year Master Plan sets the foundation for sustainable and profitable growth between now and the end of 2017. It’s an incredibly exciting time for us, as we get ready to bring new aircraft in, growing our fleet by 25%. We have announced new routes and have strengthened in particular our South Pacific network. We’re pursuing new airline partnerships as well as working together more closely with our current allies and we will also work closer with our business partners in the travel trade and in cargo. Our operational performance in the past 6 months has been significantly improving, with an average on-time performance of 82.5% for Fiji Airways and 92.7% for Pacific Sun, soon to be rebranded to Fiji Link.”

Highlights of FY2013 (April 1st – December 31st 2013) include the relaunch of Fiji Airways and introduction new aircraft, uniforms and on-board products; the induction of two brand new A330s into the fleet; the development of its Five Year Master Plan to grow the airline with increased operating profits, driven by a larger fleet, more seat capacity and a larger network.

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By TESTCustomwebLP TESTCustomwebLP April 11, 2014 22:44
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