NEWS

We Up Shares In Our Airline

Fiji has substantially increased its ownership of Fiji Airways. Figures revealed by the Attorney-General and Minister for Economy, Aiyaz Sayed-Khaiyum, show the Government’s new shareholding of our national airline is:
27 Oct 2021 12:24
We Up Shares In Our Airline
Fiji Airways Airbus A350-900 XWB.

Fiji has substantially increased its ownership of Fiji Airways.

Figures revealed by the Attorney-General and Minister for Economy, Aiyaz Sayed-Khaiyum, show the Government’s new shareholding of our national airline is: 74.56 per cent of the entire issued-share capital. Other shareholdings in Fiji Airways are as follows:

  • Qantas Airways Limited (Australia) – 24.04 per cent;
  • Air New Zealand Limited – 1 per cent;
  • Government of Kiribati – 0.14 per cent;
  • Government of Tonga – 0.14 per cent;
  • Government of Samoa – 0.06 per cent; and
  • Government of Nauru – 0.05 per cent.

The new shareholding continues a dilution of the Qantas shareholding and control in Fiji Airways.

This lessening of Qantas power had started in 2012. The Fijian Government was concerned over the Australian airline’s board and veto rights it held over decisions involving the then Air Pacific.

The Fiji Sun reported back then: “Government has changed its ownership and control criteria for airline companies registered in Fiji which ultimately reduces the power Qantas has on Air Pacific.

“This has been done through the introduction of the Civil Aviation (Ownership and Control of National Airlines) Decree 2012.

“The decree essentially takes away the veto and supermajority rights Qantas had in Air Pacific matters as (the then) 46.3 per cent shareholders.

“The Fijian Government is the largest shareholder in Air Pacific with a (then) 51 per cent stake.”

Qantas and its low-cost subsidiary Jetstar later started directly competing with Fiji Airways between Australia and Fiji despite a code share partnership.

 

 



Fijisun Ad Space


Get updates from the Fiji Sun, handpicked and delivered to your inbox.


By entering your email address you're giving us permission to send you news and offers. You can opt-out at any time.


Tower Insurance
Advertise here
Covid 19 - SPC
Fiji Sun Instagram
Subscribe-to-Newspaper