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Fiji Airways Group Announces Record Profit of $84.5 Million FJD in 2016

March 24, 2017 Financial No Comments Email Email

The Fiji Airways Group is proud to announce a record profit of $84.5 million (Fijian Dollars), earned during the fiscal year that ended December 31, 2016. Fiji Airways’ profit increased by 20.5% compared to 2016 and the airline carried a record 1.4 million passengers, compared to 1.3 million in 2015. Fiji Airways’ success benefited from a robust demand from the U.S., accounting for approximately 27% of total point of sales revenue contribution for the airline.

Mr. Andre Viljoen, Fiji Airways Managing Director & CEO

Mr. Andre Viljoen, Fiji Airways Managing Director & CEO, commented, “This is a fantastic result, as we record another year of growth in reported profit. This strong performance is a true testament to the tremendous work done by our team, responding strongly to the challenges we faced [in 2016].”

Fiji Airways took efforts to counteract the effects of Cyclone Winston, which affected Fiji in February 2016, by heavily discounting its fares. While reduction in rates cut into the airline’s revenue by more than $40 million (Fijian Dollars), these actions are attributed to the impressive growth in Fiji’s total tourism demand for 2016 and to Fiji Airways’ record profits.

In addition, trends show an increase in visitation to the South Pacific from North America. Tourism Fiji, as served by Fiji Airways offering the only non-stop flights from the United States, reported record-breaking global arrivals to Fiji at 792,320 in 2016, with 69,628 derived from the United States, a 5% increase from 2015.

“Last year was full of milestones achieved, culminating in the largest profit the airline has ever recorded. To achieve these results is nothing short of outstanding – in a year when we had the most devastating cyclone in our nation’s history to slow down tourism and the launch of three new international routes,” concluded Viljoen.

FY16 Performance Summary:

Profit Before Tax

$84.5 million FJD

Increase in passengers flown

4.9%

Increase in trips

8.9%

New routes launched

Nadi-Singapore, Nadi-Vava’u, Nadi-San Francisco

Increased frequency

Permanent: Hong Kong

Seasonal: San Francisco, Auckland, Apia, Christchurch, Sydney, Nuku’alofa, Funafuti, Savusavu, Taveuni, Kadavu

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