Airlines across the globe have welcomed a large increase in profits over the past year, mainly due to the low cost of fuel.
Among them is Fiji Airways, which announced another record year of growth for the 12 months ending 31 December 2015.
According to the company’s latest results, over the year group revenue reached F$815.3 million, up from F$767.4 million the prior year.
Group profit before tax jumped by almost F$10 million from $60.8 million to $70.2 million thanks to strong performances in the international markets, particularly from core markets of Australia and New Zealand.
The carrier recognised that an increase in passenger numbers (1.3 million from 1.2 million) contributed to its booming year, but noted “lower than anticipated fuel prices” as another major factor.
Looking ahead, Fiji Airways’ CEO, Andrew Viljoen said while fuel has been favourable over the last year, he predicts it “will not last” and is hoping to offset any fuel price rises and other challenges with market demand and new routes.
“Our results are also sustainable, provided that market demand recovers from recent national disasters and is not merely driven from lower than anticipated fuel prices.”
Andrew Viljoen, Fiji Airways CEO
“The fuel price relief will not last, so we intend to maintain our cost-management discipline and focus.”
Shareholders and stakeholders aren’t the only ones expected to share in Fiji Airways recent success, with the carrier confirming it will once again distribute a portion of profits amongst staff.
All eligible non-management staff will receive a payout of $3,300 each, while eligible managers will receive a bonus no less than $7,000 each.
This is the second year in a row Fiji Airways’ team will receive generous bonuses as a thank you for their work.
