26 Oct 2011

Air Pacific Airbus purchase part-funded by FNPF

2:12 pm on 26 October 2011

The CEO of Fiji's national airline has confirmed the Fiji National Provident Fund is lending the airline money to buy three new aircraft.

"Air Pacific has ordered three Airbus A 330-200s to replace its current fleet of B-747and B-767 aircraft."

The airline's CEO Dave Pflieger has confirmed to Fiji media Air Pacific has borrowed about 113 million US dollars for initial funding of the purchase.

He would only confirm the catalogue price of the planes at 200 million US dollars each but would not reveal the planes' purchase price.

Mr Pflieger has told reporters 85 percent of the funding would be provided by offshore banks.

The first of the three planes will arrive in March 2013.