Fiji Airways Announces Highest-Ever Operating Profits of $60.8m

24 Feb, 2015, 19:00 ET from Fiji Airways

NADI, Fiji, Feb. 24, 2015 /PRNewswire/ -- Fiji Airways Group reported record-breaking revenue and passenger numbers for the fiscal year, announcing an increase in operating profits from 2013. 

The Group recorded an operating profit of $60.8m from January 1st - December 31st 2014. These results are more than two times better than the best operating profit achieved in the history of APL back in 2005. Fiji Airways Group earned $770m revenue and grew passenger numbers by 4.5%, flying 1,244,596 passengers in 2014.

The announcement of the record result was described by the Attorney General, Aiyaz Sayed-Khaiyum, stating "The fact that even the lowest paid worker in Fiji Airways is to receive a bonus of $3000 is unparalleled in Fijian corporate history. It is a tremendous vindication of all the hard work that the staff and management have put in over the past few years to turn Fiji Airways around and secure its future."

Fiji Airways Performance for 2014:

Increase in RASK (Unit Revenue)

6.9%

Increase in CASK (Unit Cost)

(2.0%) - in line with productivity growth

Increase in passengers flown:

4.5%

Increase in load factor:

8.2%

Increase in trips:

5.3%

New routes launched:

Suva-Sydney, Suva-Apia

Increased frequencies:

Australia, New Zealand, Hong Kong, Tuvalu, Samoa

Financial Results


Group


Company



Year Ended 31 December 2014

9 months Period ended 31 December 2013

Year ended 31 December 2014

9 months Period ended 31 December 2013

Revenue

769,527

541,185

735,627

512,908

Profit before income tax

60,778

14,166

65,229

8,250

Profit after income tax

52,850

14,483

55,592

8,743

Basic Earnings Per Share

$2.03

$0.56

$2.13

$0.34

 

Operating & load statistics


 FY14

 FY13*


 YoY

 

YoY %



Passengers flown


1,244,596

1,190,735


53,861

4.5%

Load factor


83%

77%


6.3pts

8.2%

Trips


9,002

8,552


450

5.3%

RASK (cents)


14.84

13.89


0.96

6.9%

CASK (cents)


13.67

13.41


(0.26)

(2.0%)








*12 months period - Jan to Dec 2013







The Group, legally known as Air Pacific Limited, comprises Fiji Airways (Fiji's National Airline), its subsidiary Fiji Link, and a 38.75% stake in the Sofitel Fiji Resort & Spa on Denarau Island.

All amounts listed in FJD.

Visit the full release for more details

About Fiji Airways: Founded in 1951, Fiji Airways Group comprises Fiji Airways, the National Airline of Fiji, and Fiji Link, its domestic and regional subsidiary. Visit www.fijiairways.com

For media inquiries, please contact:
Jaclyn Gaffaney
Myriad Marketing / Fiji Airways
Jaclyn@myriadmarketing.com
+1 310-649-7700

Logo - http://photos.prnewswire.com/prnh/20140110/LA44052LOGO

 

SOURCE Fiji Airways



RELATED LINKS

http://www.fijiairways.com