FIJI’S AIR PACIFIC POSTS RECORD PROFIT

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FIJI’S AIR PACIFIC POSTS RECORD PROFIT

SUVA, Fiji (Fijilive, May 31) – Fiji's national carrier, Air Pacific, has announced its highest profit ever despite strong competition from no-frills airlines Freedom Air and Virgin Blue.

Air Pacific achieved a pre-tax profit of FJ$35.9 million (US$21.3 million) for the financial year ended March 31, an increase of 3.7 percent over the previous year, according to chairman Gerald Barrack.

The profit after tax was FJ$24.5 million (US$14.5 million), slightly above the previous year.

Barrack said the board declared a dividend of FJ$7.3 million or 28 cents a share, and has approved payment of a bonus to its entire staff.

Despite the good results attained by Air Pacific for 2004/2005, it is expected that next year’s results will be considerably weaker. The price of fuel continues to be a major concern, says Barrack.

June 1, 2005

Fijilive: http://www.fijilive.com

 

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