1 Jun 2005

Fiji airline announces highest-ever pre-tax profit

10:33 am on 1 June 2005

Fiji's national airline, Air Pacific, has announced its highest ever pre-tax profit of 21.5 million US dollars for the financial year ending in March.

The profit was an increase of 3.7 percent over the previous year.

The after tax profit was 14.7 million US dollars from which the board has paid 4.4 million in dividends and given staff a bonus.

The result was achieved despite competition from budget airlines and surging fuel prices.

The company has attributed the result to stringent cost cutting, a weaker US dollar, and higher New Zealand and Australian dollars.