Investing in a strong and dedicated team will lead to continuous record-breaking profits, that is, if Fiji Airways’ example is anything to live by.
The airline today announced it has set a new profit record for the first six month of the year, with an operating profit before tax of $17.5 m.
The result is a solid improvement on the $15.4 million profit during the same period last year. It’s also the highest six-monthly result in the company’s history.
It’s not the first time this year the airline has announced record breaking profits this year. In February the carrier said it earned $62.5 million for the nine months to December last year – also the highest recorded profit for that period.
Fiji Airways’ Chairman, Nalin Patel, commended staff for the latest outstanding performance, saying with their ‘strong support’ they were able to achieve results that benefit the airline, the people, the tourism industry and the entire Fijian economy.
Despite the successful periods, he said no-one at Fiji Airways could afford to be complacent if the airline was to equal or better last year’s result and he urged management and staff to remain focused.
“While there is no room for complacency, we are seeing some excellent results from the financial growth plan that Fiji Airways has had in place since last year, with its emphasis on strong fiscal discipline and continuously improving efficiencies.”
Nalin Patel, Fiji Airways Chairman
Fiji Airways Acting CEO, David Bowden, concurred, saying the company managed to deliver strong results despite economic and market pressures.
“In addition, Fiji Link’s regional and domestic network contributed positively to the Group and performed in line with its five-year plan growth phase now that the re-fleet and rebranding is in place,” he said.
“In particular, we have significantly increased our regional network footprint in terms of capacity offering and new codeshare partnerships with Air Vanuatu and Real Tonga.
“Our results are also sustainable with any fuel price upsides realised being largely off-set by foreign currency exposures on aircraft US dollar-based loans and AUD dollar revenue streams, exceptional costs and investments in building long term capability.”