Fiji Airways has reported a record-breaking operating revenue of $1.8 billion for 2023, as detailed in the Company’s Annual Report presented in Parliament last week. Chairperson Nalin Patel indicated that this figure represents the highest earnings for the national airline in its 70-year existence. The airline announced an operational profit of $113.2 million, a significant recovery from a loss of $175 million in 2022.
Patel emphasized the airline’s crucial role in Fiji’s economic growth, noting it transports up to 70 percent of all visitors to the country and contributes significantly to Fiji’s Gross Domestic Product. In 2023, Fiji Airways achieved a landmark by carrying 2.2 million passengers, exceeding the two million mark for the first time.
The Chairperson attributed the airline’s strong financial performance to strategic initiatives and the resilience of the national carrier. However, Patel warned of a more challenging and competitive environment in 2024, both for the airline and for Fiji as a destination. He cited various factors such as economic uncertainty in key markets, global geopolitical tensions, increased competition in aviation, fluctuating fuel prices, inflation-related costs, and the impact of a stronger US dollar on operations, indicating that 2024 is likely to present different challenges compared to 2023.