13 Jul 2012

Air Niugini pays first dividend since 1996

12:25 pm on 13 July 2012

Papua New Guinea's national carrier Air Niugini has given the government a dividend payment of three million US dollars.

The dividend is the first the airline has paid since it was corporatised in 1996.

The newspaper, The National, reports that the cheque was given to the caretaker Minister for Public Enterprises, Sir Mekere Morauta, as he unveiled the airline's new Boeing 737 airliner in Port Moresby.

Sir Mekere says that the principle that the airline must pay dividends is very important because it helps instill commercial discipline in public enterprises.

He says this is the first year since 2007 that public enterprises have paid dividends.

Three other public enterprises have paid dividends this year.

They are PNG Ports with seven million US dollars, Port Moresby's water supply and sewerage services system, Eda Ranu, with 1.4 million dollars and Water PNG with 240,000 dollars.