The Civil Aviation Authority of Fiji (CAAF) has emphasized the need for sufficient financial resources to effectively manage aviation safety and security oversight, as highlighted in its recently released 2023 annual report. The report reveals a concerning pre-tax loss of $617,359 for the year, a stark contrast to the profit of $2,255,151 from 2022.
According to CAAF, the financial downturn was mainly attributed to decreased revenue and higher expenses compared to the previous year. Despite these obstacles, CAAF continues to uphold its core revenue streams, which include departure taxes, government grants, and various service fees.
Peceli Baleikorocau, the CAAF chairperson, noted that the organization has achieved a notable track record, with no findings on its financial statements for three successive years. He expressed optimism, stating that 2023 was marked by challenges and achievements, showcasing resilience, innovation, and a steadfast commitment to the safety and security of Fiji’s aviation sector.
This year will undoubtedly present hurdles, but the focus on maintaining transparency and operational integrity positions CAAF to overcome current financial difficulties while continuing to prioritize aviation safety in Fiji.
Overall, despite facing financial losses, CAAF’s consistent performance in maintaining its core functions and commitment to safety is commendable and offers hope for a recovery and strengthening of the aviation industry in the coming years.
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