Fiji Airways net profit up 24% to F$14mn in FY2012/13

By:  
-
Source:
This story is sourced from Pro
See more Pro news »

Fiji Airways' after tax profit totalled Fiji dollars (F$) 14.1 million ($7.4 million) for fiscal year to 31 March 2013, up 23.7% compared with F$11.4 million in the previous year.

The carrier's revenue increased 2.14% to F$660 million and it carried 14,167 more passengers than in 2011/12.

The carrier's chairman of the board of directors Nalin Patel attributed the drop in underlying operating profits to the floods in April 2012, the cyclone in December 2012, as well as expenses related to rebranding the airline and preparation for the induction of its new fleet of Airbus A330s.

The airline, previously known as Air Pacific, was rebranded to Fiji Airways three weeks ago.

"Given that we initially expected to make a loss during this transition year, wherein we are exiting our older Boeing 747s and inducting our first ever owned A330 widebody, I'm quite pleased with our results for 2012/2013," says Patel.

"Just three short years ago we experienced the biggest loss in our history, so a second year of sustained operating profit is a good result. Our focus is now on inducting our new A330s and expediting efficiencies in our fleet and schedule this year," he adds.