Fiji Airways has achieved the strongest profit in its history, as the company’s recent rebranding and expansion strategy started to show results.
For the full-year 2014, the airline generated an operating profit of FJ$60.8 million (US$29.8m) – higher than the previous record set in 2005. The company’s revenues rose to FJ$769.5m, while net profits totalled FJ$52.8m.
“We’re obviously delighted with this performance, which has been achieved through the hard work of the entire team,” said Nalin Patel, chairman of Fiji Airways’ parent company, Air Pacific Ltd.
“All of the key business and financial metrics outperformed the previous financial year, with passenger numbers, load factor and average fares all improving significantly, coupled with growth in line with productivity levels of the best global airlines,” he added.
Fiji Airways handled a total of 1.24m passengers in 2014, up 4.5% compared with the previous year, while the airline’s average load factor jumped from 77% to 83%. The airline operated 9,002 flights in 2014, 5.3% more than 2013.
Two new routes were launched last year, Suva-Sydney and Suva-Apia, while the carrier added more flights to several countries including Australia, New Zealand, Hong Kong, Tuvalu and Samoa.
Attorney General Aiyaz Sayed-Khaiyum, a member of the Fijian cabinet, said the result “vindicates the… government’s decision to rebrand the airline [and] vindicates our decision to invest in new aircraft, such as our state-of-the-art A330s and new ATRs.”