Fiji airline pays profit bonus to all staff
Staff and management rewarded after record year.
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EARNINGS
Government-run Fiji Airways is paying its staff a bonus after its most profitable year.
The management will receive a profit-share payout of $F7000 each and other staff of 835 will get $F3000 each.
The move follows a net after-tax profit of $F55.6 million for Fiji Airways Group’s airline division for the nine months to December 31.
The group reported an after-tax profit of $F52.9 million versus an after-tax profit of $F8.7 million and $F14.5 million respectively for the nine-month period to December 31, 2013.
This was on revenue of $770 million in 2014, compared with $541 million for the nine-month period to December 31, 2013.
These results are more than twice the best operating profit achieved in the history of the former Air Pacific Group back in 2005.
Airline passenger numbers increased 4.5% to 1.2 million passengers in 2014 compared with the previous year. The load factor (passenger per flight) rose 8.2 percentage points to 83% and the average fare increased 2.7%.
Unit cost decreased by 2% in line with productivity growth, reflecting the group’s strong overhead and fixed cost discipline and focus, the company says.
Fiji Airways Group owns the Fiji Link airline and Pacific Call Comm. It also has a 38.75% stake in the Sofitel Fiji Resort & Spa on Denarau Island, Nadi.
Qantas and Air New Zealand have minority shareholdings, with the Fiji government owning the rest.
Nevil Gibson
Wed, 25 Feb 2015
Wed, 25 Feb 2015
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Fiji airline pays profit bonus to all staff
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