Fiji Airways has announced a groundbreaking operating revenue of $1.8 billion for the year 2023. This milestone was revealed in the company’s Annual Report presented in Parliament last week.
Nalin Patel, Chairperson of Fiji Airways, noted that this represents the highest earnings in the airline’s 70-year history. He highlighted that the airline achieved an operational profit of $113.2 million, marking a significant recovery from a loss of $175 million in 2022.
Patel emphasized the airline’s crucial role in Fiji’s economic growth, stating that as the leading carrier in the country, Fiji Airways transports approximately 70 percent of all visitors, making it a vital contributor to Fiji’s Gross Domestic Product. In a historic achievement, the airline carried 2.2 million passengers in 2023, surpassing the two million mark for the first time.
He pointed out that the strong financial performance in 2023 was a result of strategic initiatives and the resilience of the national carrier. However, Patel cautioned that 2024 is expected to present a more challenging and competitive environment for both the airline and Fiji as a tourist destination.
He mentioned several factors that could impact operations in the coming year, including economic uncertainty in key markets, geopolitical tensions, increased competition in the aviation sector, fluctuating fuel prices, inflation-related costs, wage inflation, and the effects of a stronger US dollar.