13 Apr 2005

Fiji employees to get 49% of company profits

4:01 pm on 13 April 2005

Employees of the company which manages all Fiji's airports will receive 49-percent of the dividends to be paid out of the 2.1 million US dollars earned as profits last year.

This is because employees of Air Terminal Services own 49 percent of the company through a trust they formed in the early 1980s.

The other 51 percent is owned by the government.

Air Terminal Services recorded a 10-percent increase in turnover last year and a 16-percent increase in profits.

The ATS chairman, Isimeli Bainimara, says the profit was achieved with the help of low cost airlines like Virgin Blue and Freedom Air, which started flying to Nadi last year.