Fiji Airways has announced a record-breaking operating revenue of $1.8 billion for the year 2023. This achievement was detailed in the Company’s Annual Report, which was presented in Parliament last week.
Nalin Patel, Chairperson of Fiji Airways, stated that this represents the highest earnings in the airline’s 70-year history. He highlighted that the airline recorded an operational profit of $113.2 million, a significant recovery from a loss of $175 million in 2022.
Patel emphasized the crucial role Fiji Airways plays in the economic growth of Fiji, as it transports around 70 percent of all visitors to the country and contributes significantly to Fiji’s Gross Domestic Product. In 2023, the airline set a new milestone by carrying 2.2 million passengers, surpassing the 2 million mark for the first time.
He noted that the strong financial performance in 2023 reflects effective strategic initiatives and the resilience of the national carrier. However, Patel indicated that 2024 may pose challenges for both the airline and Fiji as a travel destination.
“With uncertainties in key economic markets, geopolitical tensions, increasing competition in the aviation sector, and fluctuations in fuel prices, along with rising operational costs and the effects of a stronger US dollar, 2024 is expected to differ significantly from 2023,” Patel added.