Fiji Airways Soars to New Heights With Record-breaking Profit of $131.81M
“2023 marked a transformative year for Fiji Airways, characterised by a full-scale ramp-up in operations and unprecedented growth,” a press release from Fiji Airways said.
Friday 10 May 2024 | 15:12
From left: Fiji Airways board chairman Nalin Patel, Deputy Prime Minister and Minister for Finance Biman Prasad and Fiji Airways managing director and chief executive officer André Viljoen celebrate the national airline’s record breaking achievement on May 9, 2024. Photo: Fiji Airways
Fiji Airways announced yesterday that it broke a major record with a staggering $131.81 million profit before Income Tax and $1.8 billion in Operating Revenue for 2023.
The national airline also announced a profit share payout of $5000 to all eligible non-management employees.
Fiji Airways success included:-
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- Operating revenue - $1.8 billion (+ 67 per cent)
- EBITDA (Earnings before interest, taxes, depreciation, and amortisation) 3 - $370.6 million (+171 per cent)
- Profit before Income Tax - $131.8 million (+180 per cent)
- Cash receipts from operations - $1.9 billion (+58 per cent)
- Debt - $100 million repaid
- Seat capacity available/offered - 2.8 million (+47 per cent)
- Passengers carried (flown) - 2.2 million (+57 per cent)
- Equity restored to $265.7 million, amounting to 50 per cent of pre-pandemic levels
- 2,051 employees (+37 per cent)
“2023 marked a transformative year for Fiji Airways, characterised by a full-scale ramp-up in operations and unprecedented growth,” a press release from Fiji Airways said.
“The financial year saw the complete reopening of international markets and full restoration of the group’s 2019 network coupled with significant growth.
“The group also continued to invest in its valued customers and enhanced its fleet with a groundbreaking lease deal of two additional new state-of-the-art Airbus A350-900 XWB aircraft.”
Source: Fiji Airways
