1 Jun 2004

Air Pacific reports US$20m pre-tax profit

10:31 am on 1 June 2004

Fiji's national airline, Air Pacific, has reported a record US$20 million pre-tax profit for the financial year ending on March 31st.

This was 38 per cent higher than the result for the previous financial year.

Air Pacific's board has approved a dividend payment of almost US$3 million and a bonus to all employees in excess of US$300 each.

And for the first time, Air Pacific carried more than half a million or 541,000 passengers in a 12 month period.

The airline has attributed its excellent results to the higher Australian and New Zealand dollars while the US dollar, in which aircraft leasing and fuel bills are paid, was weak.