Fiji Airways has announced a record-breaking operating revenue of $1.8 billion for 2023, according to the Company’s Annual Report presented in Parliament last week. Chairperson Nalin Patel noted that this marks the highest earnings in the national airline’s 70-year history.
The airline reported an operational profit of $113.2 million, a significant recovery from a loss of $175 million in 2022. Patel highlighted that Fiji Airways continues to be crucial for Fiji’s economic growth, as it transports about 70 percent of all visitors to the country and contributes significantly to Fiji’s Gross Domestic Product.
In 2023, the airline achieved a significant milestone by carrying 2.2 million passengers, surpassing the two million mark for the first time. Patel mentioned that this strong financial performance is a result of strategic initiatives and the resilience of the airline.
However, he acknowledged that 2024 is anticipated to present a more challenging and competitive environment, both for the airline and Fiji as a travel destination. Patel pointed out potential obstacles such as economic uncertainty in key markets, geopolitical tensions, increased competition in aviation, fluctuating fuel prices, inflation-driven costs, wage increases, and the impact of a stronger US dollar on operations.