29 Jul 2015

Fiji Airways makes another major repayment to provident fund

8:56 am on 29 July 2015

Fiji Airways has paid back the Fiji National Provident Fund $9.3 million US dollars as an early loan repayment.

It brings the loan amount down below $50 million US dollars.

Last year the national carrier made a similar early payment due to its strong financial position.

The FNPF chairman, Ajith Kodagoda, says the airline has re-affirmed the confidence the fund has in it.

Fiji Airways' acting CEO, David Bowden, says on the back of last year's $28.3 million US dollar profit, the airline has been able to meet all its financial obligations to shareholders, staff and other stakeholders.

Mr Kodagoda says the success of the airline is crucial to Fiji, particularly the all-important tourism industry.

He says the investment complements the fund's investment in hotels such as the Intercontinental at Natadola and the upcoming Marriott Hotel in Momi.

A Fiji Airways plane

A Fiji Airways plane Photo: Supplied