Fiji Airlines gets $200 million bailout and lays off half its staff

Fiji Airways has secured sovereign guarantees worth $ 200 million to support urgent financing actions required to tide the company through the COVID-19 crisis, and the expected slow ramp up of travel demand thereafter. The bulk of the airline’s international services have been cancelled through to the end of June 2020, with further reductions expected in July and August. These cancellations, caused by the prolonged COVID-19 Pandemic, have caused revenue to dry up, whilst monthly fixed costs remain. The sovereign guarantees will be issued by the Fijian Government in support of FJ$ 450 million-worth of initiatives aimed at bolstering the